How AI will transform the legal business model – Artificial Lawyer

Ahead of the groundbreaking Legal Innovators Europe conference Paris – June 24th and 25thAL spoke to Olivier ChatouteauThe founder of Day Two consulting firm talks about how AI will transform legal business models.

Below is a video and transcript of the conversation. One key point that particularly stood out was his mention of how his advisory business is built on the use of AI. Rather than reduce revenue, Shadu said it has significantly increased revenue compared to its previous non-AI-based business, Day One.

And this goes to the heart of legal AI. Many lawyers are understandably concerned about AI, believing it will reduce their income. In reality, AI expands what can be done, allowing businesses to take on more things and do more, which in turn increases revenue.

This and many other important issues are being considered in this short but incisive discussion ahead of this conference. Legal Innovators Europe Conference in Paris – June 24th (Law Firm Day) and June 25th (Internal Day). will be held at Pullman Paris Hotel – Eiffel Tower.

Admission is free for senior professionals from law firms and in-house legal teams. See Express Registration information below.

Press play to watch or listen to the video.

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Legal Innovators Europe – Paris – June 24th and 25th.

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See here for more information. Legal Innovators Europe – Paris – June 24th and 25th.

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AI transcript

Richard Tromans (00:13.616)

Hey everyone, this is Richard Tromans from Artificial Lawyer. This time we have created a special video about legal innovators in Paris, which will be released soon on June 24th and 25th. Joining me is one of our great speakers, Olivier Charloteau. Olivier, nice to be with you.

Olivier Chatouteau (00:36.204)

Richard, it’s great to be here and to be a part of the conference.

Richard Tromans (00:39.74)

that’s right. I’ve known Olivier for many years, but this is the first time we’ve actually attended a conference together. We are so excited to have Olivier with us. Olivier, could you tell our audience a little bit about yourself and your work?

Olivier Chatouteau (00:55.976)

yeah yeah. With pleasure. There, I run the first AI-native AI consulting firm focused on the legal market, working with legal departments, GC, compliance, and IP. And the second one is law firms and notaries. And I work with them on their organization, their transformation, and obviously digitalization and AI. So it’s a pretty busy market.

As you know, everything is moving very fast and it’s very exciting. It’s very exciting to be a part of this market. We’re working with my team in Europe and all the countries, or trying to work in all the countries, and that’s very exciting.

Richard Tromans (01:39.536)

And you’re based in Paris.

Olivier Chatouteau (01:41.804)

Yes, the whole team is based in Paris, but we travel and, as you know, use digital tools to talk to clients all over the world. That’s very interesting.

Richard Tromans (01:55.004)

wonderful. In this video, I’m the perfect guest to talk about the Legal Innovators Conference. This conference will also have a lot to do with AI. The first day focusing on law firms will be on June 24th. And the second day on June 25th will be very focused on internal worlds, GC, etc. Olivier II, I know that you mainly work in-house, but could you give me a rough idea of ​​what you feel?

No need to name names, but what are you picking up from the French market? What do French lawyers think about AI? What do they think about legal tech?

Olivier Chatouteau (02:35.97)

Well, I think we also work with law firms, which is interesting. We are increasingly working with law firms. They are basically calling us to understand how we can manage this transformation and revolution. So I think we’re in phase three. Phase 1 was that AI is not for me. I don’t think this will work. Because I’m a good lawyer, I’m an expert, and AI doesn’t exist there.

The second step was, we need to go there, so we can buy a license and show the market that we’re an AI company or an AI legal department. And some of the many organizations just bought the license and didn’t do anything else because they thought it would be implemented as quickly as people started using Chagipiti three years ago. And that didn’t work because people moved to AI tools.

Encourage very difficult or complex questions. If you don’t find the answer, don’t go back to the tool and continue down. Phase 3, and I think we’re in phase 3 now. This is very interesting to me, and I know that lawyers, whether in-house or outside the council, have to do it. You don’t have a choice, right? They have to, but they understand that AI can help a lot.

Save time, improve quality and innovate. It’s very, very convenient. Now we’re moving and we’re working with law firms or legal departments to bring in AI tools, do change management, work on target operating models, work on law firm business models, describe models that can move from cost-plus pricing and hourly rates to value pricing, and basically change the business model that I’ve been there for a long time…

One hundred years. That’s very, very interesting. And I know this is what people are going to talk about at your conference. That’s why I think it’s worth attending the June conference. Because we’re not just going to have cutting-edge, best-in-class technology, we’re going to have people who are using AI to drive change, not just in talk but in real life, to show us what they’re doing. Best practices and ideas. and i know

Olivier Chatouteau (05:00.706)

Because I know of conferences that have been held in New York, San Francisco, and London, and I know that people get a lot out of them every time. So I’m sure they’ll do the same in Paris.

Richard Tromans (05:13.638)

wonderful. Yes, and definitely that’s the intention. We definitely focus on large commercial law firms. We focus on large legal teams, but not necessarily just in-house legal teams at large corporations, small businesses, boutiques, niche practices and scale-up companies across Europe. And of course, this is not limited to France. That point should be emphasized. We are also planning to go to Paris. A great place for anyone in Europe.

Across the European Union and beyond. Based on Olivier’s comments, it seems like France is at least currently serious about AI. So it seems like the position of most in-house lawyers is not that different from the position in other countries. They’ve gone through the different stages you described and are now entering into real value, real transformation.

I mean, I mean, from your perspective, I mean, how big of a change do you think this is going to be as it flows?

Olivier Chatouteau (06:23.17)

To me, it’s clear that it’s a paradigm shift. So this is going to be a big, big change, big change in the legal industry. Typically, we overestimate short-term changes and underestimate long-term changes. I think there will be major changes in the legal industry. As you know, AI-native law firms are going to enter the European market, and that’s happening now.

Of course in the US, but also in Europe, this is a new entrant that is changing the way incumbents operate in that market, so it’s really attractive. So, sometimes law firms don’t move that fast and don’t like change very much, but because of pressure from new entrants and clients, primarily legal departments and GCs, they’re going to be forced to change.

Now you need AI. Show me what you do with AI. Of course, confidentiality must be ensured. I think we will also talk about sovereignty, which is very important for Europe. But it’s also a question of quality and innovation. I think the interesting thing about AI is that we don’t see it. God, we’re going to die, but the AI ​​is better than me and will help me manage things I don’t want to manage anymore. But AI also helps me.

Innovate more, do more interesting work, innovate more for my law firm, my clients, or my legal department. So I think now is the right time to become a lawyer, whether it’s in-house or at a law firm. Because this revolution is the only revolution we will experience in our lives. And we’re going to get there. We knew we were leading the AI ​​revolution even before it happened.

And I believe and I am sure that we will be there after this revolution. We only have one chance to live. It is the fourth industrial revolution. So if you look at human nature, we are the lucky ones. Maybe I’m too optimistic. Even though we know there are threats, even though there are risks, we are lucky if we can see AI as an opportunity. Therefore, we need to manage and mitigate those risks.

Olivier Chatouteau (08:46.978)

But we need to see AI as an opportunity to harness our brains, critical thinking, and innovation to change the way we think. So I think that’s all that I want you to talk about at the conference in Paris in June. Yes, France, please come. But Europeans and people from all over the world flock to Paris. It is the most beautiful city in the world. To keep it very simple.

Richard Tromans (09:12.304)

wonderful. that’s right. The AI ​​revolution and Paris. What more could anyone want in mid-June, the perfect month to visit Paris? Thank you, Olivier. We’re really looking forward to hearing from you and meeting others listening. If you’d like to learn more, there’s a link around the video and I look forward to seeing you there. thank you.

Olivier Chatouteau (09:32.28)

Thank you, Richard.