The widespread use of AI within the legal profession will continue to affect business attorneys. According to Goldman Sachs, investments that will flow into businesses and injected by 2025 in the U.S. may range around $200b.

Business law and attorneys are benefiting by such trends as more businesses are developing AI products for law firms and law practitioners because legal tasks like research, document drafting, analysis, compliance, and/or discovery will be affected critically and efficiently.  

GenAI products are capable to supporting the profession in reviewing, analyzing, checking contracts and agreements. GenAI helps to reduce routine tasks, spot errors and reduce time giving attorneys more time to improve the quality of the work performed for their clients.

In legal research, GenAI machine learning is the more recent development with the shift from the boolean search (matching keywords) to the semantic one (relevance to the meaning or relationship of meanings).

In litigation, AI is used for discovery (in order to analyze large volumes of data) and more recently to predict legal outcomes through the analysis of historical data.

General counsels can benefit by analyzing corporate risks in business operations and solutions.

Business law is an area extremely malleable when it comes to economy of scale and efficiency. Other critical areas affected by AI and GenAI are democratic institutions, privacy, cybersecurity, employment discrimination, ethics, and IP rights. Legislators in the U.S. at the federal and state levels are currently reshaping the way in which business law will work.