Will AI replace the need for human Commercial Lawyers?

The quick short answer is definitely no… at least not in the near future anyway. As the use of Artificial Intelligence (AI) continues to grow across various industries, many are questioning whether commercial lawyers in Australia could eventually be replaced by AI. While AI has the potential to greatly enhance the legal profession, experts say that it is unlikely to fully replace commercial lawyers in Australia anytime soon.

Commercial lawyers are responsible for advising businesses on legal matters related to their operations, such as contracts, transactions, intellectual property, and regulatory compliance. Whilst AI can assist with certain tasks related to legal research, document drafting, and contract review, there are several limitations to its capabilities when it comes to commercial law.

1. Commercial law requires a deep understanding of business operations and industry standards. Commercial lawyers need to have a solid understanding of business law, corporate governance, and the commercial environment in which their clients operate. Whilst AI can provide legal information and guidance based on pre-existing data and patterns, it is not able to understand the unique circumstances of each client’s business operations.

2. Commercial law requires creative problem-solving and strategic thinking. Commercial lawyers need to be able to identify legal risks and find solutions that align with their clients’ business objectives. AI can generate responses based on pre-existing data and patterns but is not able to provide the same level of creative problem-solving and strategic thinking that human lawyers can.

3. Commercial law involves complex negotiations and communication with clients, stakeholders, and other legal professionals. Commercial lawyers need to be able to communicate complex legal concepts in a way that is easily understood by non-legal professionals. Whilst AI can generate responses based on pre-existing data and patterns, it may not be able to provide the same level of communication and negotiation skills that human lawyers possess.

4. Commercial law involves ethical considerations and professional responsibility. Commercial lawyers are bound by strict ethical guidelines and must adhere to a code of professional conduct. AI provides legal information and guidance, it can't provide ethical or moral guidance the same way that a human lawyer can.

Whilst AI can certainly enhance the work of commercial lawyers in Australia, it is unlikely to fully replace them in the near future. The legal profession requires a unique set of skills and qualities that are difficult to replicate with AI technology. Commercial lawyers in Australia will continue to play a crucial role in providing expert legal advice and guidance to businesses and will remain an essential component of the legal profession for many years to come.

To get further information as to how Rise Legal can assist you in reviewing a commercial lease, book in for a free 15-minute consultation with one of our lawyers.