Legal-AI-Opportunities-and-Challenges-Whitepaper.pdf

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Title: Opportunities and Challenges in Legal AI Date: January 2025 Authors: Aksh Garg, Dr. Megan Ma 1 Introduction With a global market size of $1 Trillion, the legal industry has received significant attention from new startup founders as an area to build in. At face value, this interest makes sense. Law is largely grounded in text-based transactions, which appear ideal for automation and processing using large language models (LLMs). These LLMs offer the opportunity to rapidly accelerate the rate at which humans can understand and process large documents – similar to those that lawyers…

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