AI Is Forcing Big Law to Rethink Business As Usual - Bloomberg.com

Bloomberg reports that artificial intelligence is pushing large law firms like Freshfields to rethink their traditional business models. Freshfields now uses a technology-based approach to vet software compliance across over 100 countries, replacing the previous practice of hiring lawyers from each jurisdiction individually.

The shift reflects a broader trend in the legal industry where AI tools are handling tasks that were historically performed by human associates, such as document review, regulatory analysis, and compliance checks. Freshfields' approach integrates AI to streamline operations and reduce costs, according to the article.

The article notes that this move allows firms to operate more efficiently and competitively, but also raises questions about the future of legal employment and the role of human judgment in complex regulatory matters. Other large law firms are likely to adopt similar strategies as AI capabilities continue to advance.