Our conversation with Michael Ulin, Co-Founder/CTO of Paxton AI, one of the companies creating AI to transform the way lawyers and firms operate.

In this discussion, Grant and Michael discuss why law is ripe for AI, how new technology may force an evolution in legal commercial and pricing models, and even hypothesize about "outlandish" future scenarios of AI lawyers fighting with each other on our behalf in the background while we go about life – with the pace of AI development and wearable computers, this may not be as far off as we think.

Origin Story

• Mike and his co-founder Tongi met at McKinsey and later reconnected after working in tech/VC.

• Their experience working in heavily regulated industries like insurance made them realize the potential for AI to help with tedious tasks like regulatory filings.

• This led them to found Paxton AI in 2023 to focus on applying AI to legal/regulatory use cases.

Paxton AI Today

• Raised $6M seed round, currently have a technical team building out the product.

• Platform helps lawyers be more efficient at core tasks like drafting documents and conducting research.

• Have thousands of lawyers actively using the product and iterating rapidly based on their feedback.

Perspective on AI's Impact

• Big transformation coming to the legal industry - will force changes to business models and billing practices.

• Smaller firms may now be able to compete for bigger clients. Legal services likely to become more accessible to consumers.

• Lawyers should learn about AI tools as this will be critical knowledge in the future.