Steve Jobs once remarked: “People who are crazy enough to think they can change the world are the ones who do.†This statement resonates deeply within the legal industry, an industry traditionally built on competition, prestige, and ego. In this article, I explore the potential of AI not only to revolutionize legal practices but also to question the potential shift our collective mindset towards a sharing economy.
The Ego-Driven Foundations of the Legal Industry
The legal industry has long been defined by its competitive nature. Success is often measured by who wins first, who accumulates the most prestigious editorial logos, who names the most partners, who closes the most deals, and which lawyer ranks highest in the industry. It’s an environment were ego and reputation reign supreme. Changing this deeply ingrained culture seems almost impossible, but what if AI could be the catalyst for such a transformation?
The Potential of AI in the Legal Industry
Although many may believe that AI is a hype, it has already begun to reshape various aspects of our lives, and the legal industry is no exception. From automating mundane tasks to providing sophisticated legal analytics, AI promises to enhance efficiency and accuracy. Of course, it did not happen when ChatGPT came out, but that’s how we (lawyers) mostly react; with big things, with big deals.
But beyond these functional improvements, my question is if AI holds the potential to drive a more profound change—a shift towards a sharing economy?
Envisioning a Sharing Economy in Law
So let’s imagine a legal industry where knowledge sharing becomes the norm because we have to do something for that 44% replacement on our legal duties that was one of the biggest eyeopeners in legal history. An industry where firms are not just ranked based on their revenue or number of partners but on client satisfaction, collaboration and trust (still working on my academic paper about this).  Why can’t we measure our success by how satisfied our clients are, rather than just our financial performance? I mean 57% of our clients sees us as a cost burden, we have to be doing something wrong.
This concept might seem radical, but it’s worth considering. Could AI pave the way for such a shift? Could it encourage law firms to share their innovations, insights, and best practices, ultimately leading to better outcomes for clients and the industry as a whole?
Sharing: AI Legal Agent “Rick”
At our firm, we’ve recently launched an AI Legal Agent named Rick, developed in partnership with Uruguayan AI startup flipando.ai, envisioned by Maia Brenner and Yves Fogel. Rick assists our attorneys by streamlining legal processes, enhancing accuracy, and expediting service delivery to our clients. With Rick, we aim to revolutionize legal assistance, ensuring faster, more reliable support tailored to our clients’ needs. Sharing this innovation publicly might seem risky—could it lead to a loss of market share? Or could it challenge our competitors and clients to rethink how legal services are delivered? Once again I don’t know but I like to question things, if not ask my mother (happy birthday once again mi vieja) or just watch the first minute of this ted talk.
Embracing Change for Our Clients
The truth is, I don’t know the exact impact of such transparency. But I’m not worried about the immediate financial metrics like the expected December EBITDA. My personal real metric is to shift the mindset of lawyers and the industry at large. This change isn’t for us—it’s for our most important asset: our clients.
By embracing AI and fostering a culture of knowledge sharing, we can enhance client satisfaction, improve service delivery, and ultimately drive the legal industry forward and with our newest partner AI. It’s time to move beyond the ego-driven foundations and towards a more collaborative, client-focused future.
