Legal Gen AI Megatrend 2024: Build vs Buy
While at Legalweek, we were lucky enough to chat with Damien Riehl, one of the godfathers of SALI. Among the many things that Damien does with his time, he has been at the forefront of pushing for better standardization and taxnomy in the legal profession for several years. We always make sure to catch up once or twice a year during the conferences to swap notes and check each others’ pulse, both for market trends and for our respective welfare.
This year, I wanted to ask Damien about megatrends in the legal tech sector.
Among the many topics we covered, Damien’s perspective sheds light on the fundamental role of product makers in the legal tech space. Particularly interesting is the importance of deeply understanding the challenges lawyers face and developing solutions that directly address those needs.
Damien shared the structure he uses to analyze the technology stack around building generative AI tools and how he thinks about the value vendors bring to the development of these technologies. We hope that our conversation about how vendors and product makers think about building generative AI tools will help law firms and buyers think about how they want to approach the build vs buy decision.
This is the first of a three video series aimed at unpacking three megatrends that we believe will shape how law firms will adopt and use generative AI technologies in 2024:
the build vs. buy dilemma,
identifying the right use cases for new technologies, and
evaluating the performance of these tools.
We look forward to releasing the other two videos in this series in the coming weeks!
