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Any thoughts on iCapital?
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No. It makes my life so much easier but won’t replace me.
Pro
I’m far more concerned about the messes that I’ll have to clean up if the business buys into the hype around AI.
It makes life so much easier and yes worried long term about this will impact in house roles. Even if we are not fully replaced, they will need less of us
Pro
Not really. Possibly for certain junior in-house roles, but there’s very few of those in the first place.
No. It makes my job 1000% easier and I’m more productive, but AI is sill VERY human in the loop.
If anything, AI makes my impact more valuable. I can spend more time focusing on strategy/impactive initiates and less time on menial work.
Business teams (at least mine) also want a lawyer to “partner” with them and execute. They aren’t looking for more work—they don’t want to be chatting with an AI bot—have the time they don’t even want to edit 3 words in a doc in track changes—they value having a real person.
It totally depends on your practice. I think there will be a lot less need for as many commercial counsels. If you advise on business operations, I wouldn’t be as worried. I don’t think those lawyers will be replaced. I advise on product development, general commercial operations, and I negotiate commercial contracts. I pretty much exclusively use AI while creating templates and redlining agreements.
Same.
In the immediate term, no. In the intermediate term, absolutely. In the longer term, we’re f-ed.
Chief
i graduated a bit earlier than you L2, and Ive been in house straight through. those non attorney roles do open up counsel roles tho
I think we are in a honeymoon phase with AI, same as we were when we thought we could answer questions by googling.
You are all really under appreciating the rate of progress. 12-18 months ago I was firmly in the camp that we weren’t even close, that these tools were mostly useless, and that it was all drastically overhyped. I tried to use AI throughout 2023 and 2024 and they did nothing for me. They were flat out too stupid.
Fast forward to today and I’m running two pro models all day every day to assist in my work, and these tools are better than junior associates at issue spotting and putting together language to tweak and run with. Either the rate of progress suddenly and significantly slows down, or these tools will be better than senior attorneys at most things in the intermediate future. Whether that means attorneys are out of the loop or not is irrelevant to the effect it will have on attorney wages.
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Nah Copilot is still quite useless. Thanks for your comment! I am excited to try out the pro versions.
Chief
Just your job
I hope this comment finds you well. The number one use of law firm AI is rewriting emails to sound more “professional”
F
Chief
do you even use AI? the efficacy depends on how well you use the tool… unless we achieve AGI, we will be fine. currently ai requires way too much energy
No.
Even in the short-term, I think for sure it will lead to lower headcount, as each attorney can be more efficient. Whether it affects your job specifically would depend on a number of factors.