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AI Startups Court Future Lawyers with Free Access
7 Apr
Summary
- AI legal startups offer free tools to law students.
- Companies target future lawyers to build customer base.
- Market for legal AI is projected to reach $10 billion annually.
Artificial intelligence startups are actively engaging with U.S. law schools, offering free access to their advanced legal AI tools to students. Legora and Harvey, two prominent companies, are providing their research, drafting, and review platforms to nine and seventeen law schools respectively.
This initiative aims to secure future clients by training the next generation of legal professionals. Companies like Harvey, which recently achieved an $11 billion valuation, use student feedback to refine their products, while Legora, valued at $5.55 billion, seeks to equip students with AI skills.
The legal AI market is experiencing rapid growth, with projections estimating it will reach $10 billion annually by 2030. This expansion offers opportunities for new companies to challenge established legal research firms such as LexisNexis and Westlaw.
Established companies like LexisNexis and Thomson Reuters are also providing law schools and students with access to their AI-enabled tools, including Lexis+ with Protégé and CoCounsel Legal. These legacy providers leverage their existing relationships with academic institutions.
By offering hands-on experience, law schools aim to expose students to AI's benefits and limitations, such as potential inaccuracies. This exposure helps students intuitively understand AI's capabilities and drawbacks as they prepare for legal practice.
