Law firms are building AI around their most valuable asset: experience
Source: Business Insider ·
After spending the past two years buying AI tools, large law firms are building systems around something more valuable: what only they know.
From the source
Tyler Le/BIFor generations, a law firm's most valuable asset walked out the door every night.It was the attorney who remembered the clause that saved a deal years ago. The trial lawyer who knew which arguments worked on a judge and which ones didn't. The partner who told an associate, "We've seen this before."Now law firms are racing to turn that expertise into software.After spending the past two years adopting tools from OpenAI, Harvey, Microsoft, Legora, and others, large law firms are building systems around something more valuable: what only they know. The bet is that artificial intelligence steeped in their deal histories, trial strategies, and client preferences will be more useful than whatever the firm across the street can buy.Law firms are spending big to bottle their secret sauce. Earlier this year, Kirkland & Ellis agreed to pay Palantir $500 million to build technology for one of the firm's core businesses: advising private equity clients on raising money. Latham &…