The future of the legal industry may not look so bright, according to Geoff Lewis, the founder of Bedrock Capital. Lewis warns young people against pursuing a law degree, as more companies are beginning to use artificial intelligence tools, such as ChatGPT, to generate complex contracts and automate tasks traditionally done by lawyers. This trend is also supported by a recent study conducted by OpenAI, which found that highly-educated professionals are more exposed to automation tools compared to blue-collar workers with trade skills. The legal services industry has an exposure level of 76%, indicating a high chance that AI could replace and automate many legal processes. Meanwhile, blue-collar work has a significant labor shortage, and jobs like bricklaying, furniture manufacturing, and electrical repairs are difficult to automate. These skills are in high demand and can provide six-figure salaries. With a steady supply of business, it might be time for those in the workforce to consider pivoting to blue-collar work and skills instead.
Legal Field in Big Trouble: Fund Manager Advises against Law School; Urges Trades Instead
Date:
Frequently Asked Questions (FAQs) Related to the Above News
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
More like thisRelated
China Aims to Reign as Global Tech Powerhouse, Investing in Key Innovations & Industries
China investing heavily in cutting-edge technologies like humanoid robots, 6G, & more to become global tech powerhouse.
Revolutionizing Access to Communications: The Future of New Zealand’s Telecommunications Service Obligation
Revolutionizing access to communications in New Zealand through updated Telecommunications Service Obligations for a more connected future.
Beijing’s Driverless Robotaxis Revolutionizing Transportation in Smart Cities
Discover how Beijing's driverless robotaxis are revolutionizing transportation in smart cities. Experience the future of autonomous vehicles in China today.
Samsung Unpacked: New Foldable Phones, Wearables, and More Revealed in Paris Event
Get ready for the Samsung Unpacked event in Paris! Discover the latest foldable phones, wearables, and more unveiled by the tech giant.