Artificial Intelligence

In this era since google became a verb, we have read several times that artificial intelligence will replace or eclipse a degree of the lawyer’s traditional role in the not too distant future. And yes it has already begun: think interactive online forms; or consumers handily seeking legal information, which they can customize to a degree simply with search terms.
Artificial Intelligence

In this era since google became a verb, we have read several times that artificial intelligence (AI) will replace or eclipse a degree of the lawyer’s traditional role in the not too distant future. And yes it has already begun: think interactive online forms; or consumers handily seeking legal information, which they can customize to a degree simply with search terms.

In
 Fast Company recently, Michael Grothaus consulted three futurists in his article, “The top jobs in 10 years might not be what you expect.” Careers on the rise they predict will include urban farmer, personal worker brand coaches, professional “tribers” (who specialize in putting teams together for very specific projects) and freelance professors.

However, by 2025, according to Graeme Codrington, the trend that began in the financial industry will extend further into it and beyond: “Any professional that is mainly involved in dealing with information is going to be replaced by algorithms and 
AI. This includes lawyers, accountants, actuaries, and consulting engineers.” Notice he is not singling out lawyers.

“Already we’ve stripped the financial industry of its most iconic personnel: the stock exchange floor traders. Now we’ve even taken most of the backroom traders away too, as stocks, currencies, and commodities are all traded by complex
and lightning fastalgorithms,” says Codrington. “The next group of financial experts to be replaced by machines is going to be private banker deal makers and the personal wealth managers. Their primary jobs involve information arbitrage  they know where to find you money, or find return on your money. When the machines know how to do this, we will dispense with the people fairly quickly.” And so on it will go through accounting and legal functions that can be replaced in analogous ways.

So it isn’t so much that lawyers are going to be competing with accountants for traditional legal work; rather they will be competing to serve clients on the consulting roles that are left; i.e., on the problems that cannot be reduced to AI analysis and resolution.

Does reflecting upon this cause any lawyer to reconsider their position on alternative business structures? Would a multi-disciplinary approach at the highest level of problem-solving better serve clients of the future instead of the status quo?