Good discussion about legal services, AI and Legora. Are Legora and other Legal AI startups competitors, service providers or complements? I personally think they are all three of these at the same time for us legal service companies.
Legal AI startups can already be seen as competitors today when it comes to relatively simple matters that would traditionally have been handled by a lawyer. Our industry is being disrupted in these areas, which prompts us legal service companies to change.
New Legal AI startups are also service providers for legal service companies. For example, at Fondia, all our lawyers use Legora. It enables us to serve our clients more efficiently, as many routine matters are handled faster. A lawyer can produce more value for their clients during the workday.
Thirdly, they are also complements. I personally believe that client companies will use (and already do today) Legal Tech applications and human-produced expert services in parallel in the future.
And yes: I believe that there will continue to be jobs for us human lawyers in the future. Legal Tech is good news for us too: we can let Legal Tech handle routine tasks, sometimes even boring ones, and focus on work where we humans are at our best. For example, assisting our clients in contract negotiations.
In addition, you should check out our press release today. We founded an internal startup called Lextopia. With it, we aim for the agility and speed of a startup as we invest in AI-based legal advice, the development and piloting of new legal solutions, and the sharing of best practices and inspiration.