Major law firm allocating hundreds of millions to build its own proprietary AI legal tech tools.
“If you look in law firms, the way that that business model works is you overcharge for the associates. And you actually undercharge for the partners... The only way they know how to price that is to overcharge for the associates.”
Source→“Kirkland & Ellis: Global law firm - Referenced as a resource”
“My understanding is that building AI technology is not a core competency of that firm. So I was surprised to see it... I think as an example... it's nothing like trying to do something yourself to make you realize, oh shit this is actually really difficult.”
AI-extracted from podcast / newsletter / paper summaries. May contain errors.