Note: This article is just one of 60+ sections from our full report titled: The 2024 Legal AI Retrospective - Key Lessons from the Past Year. Please download the full report to check any citations.
E. Advantages for Small Law Firms / Sole Practitioners
The adoption of AI technologies offers significant advantages for small law firms and sole practitioners, enabling them to compete more effectively with larger firms and expand their capabilities.[136]
While some prominent Legal AI providers seem to focus on furthering the technology capability gap between BigLaw and other law firms, companies like tiktok˰ and ContractPodAI are actively working to reverse this trend by offering cutting-edge technology to solo, small, and mid-market firms. AI empowers smaller legal entities to enhance efficiency, explore new practice areas, and provide more customized services to their clients.
A third of small firms are exploring the potential of new generative AI systems.[137]
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