The legal technology sector has seen massive shifts over the past decade, driven largely by artificial intelligence (AI) advancements. What was once a fringe topic has now become central to discussions about the future of law. In a recent episode of the Legal Mastermind Podcast, hosted by Market My Market, Richard Tromans, founder of Artificial Lawyer, shared his insights on how AI is disrupting traditional legal practices. His perspective offers a rare glimpse into the rapid evolution of legal tech and the implications this has on law firms of all sizes.
Tromans recalls his early encounters with AI in the legal space back in 2016. As legal AI tools began to emerge, law firms were initially slow to adopt these technologies. However, his experience with early AI systems, like natural language processing and machine learning, showed him that these tools had the potential to revolutionize legal work. What began as a niche innovation has now become a defining feature of how the industry operates, with AI’s impact growing year by year.
The Legal AI Revolution: Past and Present
AI’s role in law is not a recent development, but its rise to prominence has been gradual. As Tromans discussed, legal tech was relatively stagnant in the early 2010s. Firms were content with their business models, and neither they nor their clients were eager to embrace radical change. This complacency allowed smaller startups to step in, developing AI tools that could handle time-consuming tasks such as document review. These startups, including companies like eBrevia and Kira, began challenging traditional methods.
One of the most exciting developments that Tromans witnessed was how these early AI systems could analyze large volumes of legal documents quickly. What once took teams of lawyers hours to complete could be done in mere minutes. Although the legal world was initially skeptical of AI’s accuracy and effectiveness, these tools gradually proved their value. Over time, law firms that were once resistant to change began recognizing AI’s potential to streamline their workflows and increase efficiency.
Despite AI’s growing presence, the adoption rate among law firms has varied. Smaller firms have found themselves in a position to leverage these tools more easily. Since they often operate on fixed fees rather than hourly billing, AI’s efficiency directly impacts their profitability. By embracing AI, these firms can handle more cases without sacrificing quality. On the other hand, larger firms, which typically charge by the hour, have been slower to adopt AI due to concerns about how it might disrupt their traditional billing models.
AI’s Potential to Reshape the Legal Landscape
While AI’s influence in law continues to grow, Tromans highlighted that there are still challenges to overcome. One of the most significant hurdles is the entrenched “billable hour” model that many large firms rely on. For AI to fully transform the industry, firms need to reimagine how they approach billing and client services. This shift will likely take time, but as smaller firms continue to demonstrate AI’s effectiveness, the pressure on larger firms to adapt will intensify.
Tromans emphasized that AI is not just a tool for automation but a catalyst for broader industry change. As the technology improves and becomes more accessible, even the most traditional areas of law will feel its impact. Already, in-house teams are using AI for tasks such as contract management and document drafting. As accuracy continues to improve, AI could eventually replace many of the mundane tasks that junior lawyers are often assigned. This would free up time for more strategic, high-value work.
Looking ahead, Tromans believes that AI could even reshape the way firms compete. In the future, it may no longer be enough to rely on reputation and name recognition. Instead, firms will need to demonstrate that they can offer faster, more cost-effective services using AI. Clients, particularly large corporations, are already beginning to push for more transparency and efficiency from their legal providers. As this demand grows, AI’s role in the legal field will only become more central.
What’s Next for Legal AI?
Tromans predicts that the legal industry is nearing a turning point. While the first wave of legal AI in the mid-2010s was promising, it did not bring about the radical changes many had hoped for. However, with tools like ChatGPT and other advanced language models now gaining traction, AI is poised to have an even greater impact in the coming years. The real question, he posits, is whether the legal industry will be willing to break free from its traditional business models and fully embrace these technologies.
For smaller firms, the adoption of AI is more straightforward, as it allows them to scale their operations and offer competitive services without the overhead costs associated with large teams. Larger firms, however, may face more significant challenges, as they must balance their reliance on billable hours with the growing demand for more efficient services. The next few years will be critical in determining which firms are able to successfully navigate this transition and which may find themselves left behind.
As legal AI continues to evolve, firms of all sizes will need to reconsider how they operate. Those that embrace AI’s potential will likely find themselves at the forefront of the industry, while others may struggle to keep up with the rapid pace of change. Whether or not the legal world is ready, the future of law is undeniably intertwined with AI.
Explore More Episodes and Insights
For law firms looking to stay ahead in the ever-changing legal landscape, staying informed is crucial. The Legal Mastermind Podcast is your go-to source for expert insights on law firm growth, management strategies, and the latest innovations in legal technology. Each week, hosts Ryan Klein, Chase Williams, and Eric Bersano bring in industry experts to share their knowledge on how to navigate the challenges law firms face today.
To learn more about how AI and other technologies are shaping the future of law, tune in to the Legal Mastermind Podcast. You can also contact Market My Market at (800) 997-7336 or fill out our contact form to see how we can help your law firm grow and thrive in this digital age.