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If AI can handle first drafts, DD reviews, research, summaries and markups in minutes, the leverage model changes.
I also know of Tier 1 firms charging clients fees that barely make economic sense simply to preserve strategic relationships and market share. When pricing pressure and AI collide, the traditional pyramid becomes even harder to justify.
My prediction: law firms and in house legal teams will operate with 30 to 40% fewer lawyers within the next two years while delivering similar output.
The bigger question is not whether lawyers survive its whether the traditional law firm model does.