Companies’ in-house lawyers have long allocated high-volume, low-value tech-based work to legal service providers rather than to fully-fledged law firms — because doing so has been cheaper and more efficient. But, now, generative AI looks set to change the economics again, and affect these alternative providers as much as the rest of the industry.
But, with the technology advancing so quickly — “it literally changes every month”, says Patel — Elevate aims to preserve its position of being “trusted by household brand corporations and law firms”. To do this, the company will study the generative AI tools that emerge and then “pick the right race cars”, Patel explains. The aim is that it can eventually provide the “race car drivers” for any tool that clients choose.
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