The legal sector is undergoing a transformation driven by AI, with record investments reaching $4.98 billion in 2024. Companies like Harvey and Clio are leading this change, securing substantial funding and forming strategic partnerships to innovate legal processes. While widespread adoption of AI tools among lawyers is not yet standard, it is anticipated to grow sharply in the coming years. AI's influence extends to challenges such as the reliability of AI-generated evidence, raising concerns over trust and bias in legal decision-making.
2024 marked a record-breaking year for legal-tech startups, which raised $4.98 billion overall, largely propelled by the booming interest in AI.
The AI-ification of the legal industry may not be fully realized, but it's certainly underway, driven by significant funding and strategic partnerships.
Lawyers are not big R&D people. They're not hackers and experimenters. They are 'tell me what this thing can do. Tell me it is safe to use it, and I'll use it.'
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