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
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