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Note: This article is just one of 60+ sections from our full report titled: The 2024 Legal AI Retrospective - Key Lessons from the Past Year. Please download the full report to check any citations.

B. Current state of Legal AI

The legal industry is experiencing rapid adoption and integration of AI technologies, transforming traditional practices and creating new opportunities for efficiency and innovation. The current state of Legal AI is characterized by widespread adoption, diverse applications, and significant market growth.

Market Growth and Adoption

• The global legal AI software market is projected to reach $4.83 billion by 2033, at a CAGR of 20.3% from 2024 to 2033.[8]

• At least 35% of law firms are now using AI for legal tasks, with an additional 42% planning to adopt AI within the next year.[9]

• The number of lawyers using generative AI doubled in the space of six months between July 2023 and January 2024 alone.[10]

• 73% of lawyers (working both in-house and in law firms) surveyed in November 2023 expected to integrate generative AI into their legal work in 2024.[11]