AI In Law: The Positives And The Negatives

The global interest in Al and its relationship with IT and non-IT industries has witnessed a staggering, exponential increase. Statistics indicate that the AI market in 2022 was valued at $136.6 billion and is projected to grow significantly to become a trillion-dollar industry by the turn of the next decade, which is just one example of the profound impact this may have on the means of doing business. Investments towards AI are also undergoing considerable growth across sectors, particularly in medicine and the life sciences fields. Law firms are no exception to the types of businesses which have begun paying attention to the potential virtues of AI in the provision of their services. With the use of AI in legal practice no longer an abstract possibility, but rather an imminent change to the practice itself, we discuss in this article the key positive and negative implications of AI in the legal industry.