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As a client who uses outside counsels for this type of work, I’d say you’re right to be worried. The AI tools we have at our disposal can already do so much and is only getting better with time.
As someone who trained an LLM for this type of work… specialist will survive. Good luck to the others.
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What about privacy?
I’m a tech trans partner at one of the SV flagship firms. I think a lot of this work will dry up with AI. That said, this work can be negotiation intensive at the high levels, and some of the sophisticated deals (biotech partnering deals, etc) are pretty high stakes and likely wouldn’t be eliminated by AI. But yes—if you are just cranking out SaaS agreements you should probably be worried.
I think learning the market and how to negotiate is valuable. The reason a lot of clients like me (and other SV attorneys like me) is because we have done the exact deals they are doing dozens of times. People want a true subject matter expert. I would make sure you are absorbing those aspects of practice and not just implementing changes into docs. Your drafting skills aren’t gonna be worth that much in 5 years.
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I think it’ll shrink for junior level commercial contracts as experienced commercial contracting attorneys use AI more.