The recent boom in legal tech, fueled by the advent of generative AI, has seen rising revenues and investor interest. However, experts like Zach Abramowitz caution that the current surge in revenue may signal an impending bubble. While many law firms are trialing various AI products, the challenge lies in their commitment to long-term contracts. In the coming months, firms will need to determine which vendors to proceed with, potentially sidelining less competitive options and shaping the future landscape of the sector.
"The legal tech boom is reaching new heights, but amidst the excitement, some investors whisper about a potential bubble forming due to rising revenues and valuations."
"The question is how 'sticky' that revenue is, with many firms testing products through pilot programs that may not lead to long-term commitments."
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