AI Law Firm Offering $2.7 Legal Letters Wins 'Landmark' Approval
English regulators have approved a new law firm that uses AI instead of lawyers to offer services for as little as $2.67, as the technology continues to disrupt industries from finance to accounting. From a report: Garfield AI, which was founded by a former London litigator and a quantum physicist, is an online tool that allows businesses and individuals such as tradespeople to chase debts owed to them at a substantially lower cost than the average lawyer's fees. Its AI assistant guides claimants through the small claims court process, including creating "polite chaser" letters for $2.67 and filing documents such as claim forms for $67, and can also produce arguments for claimants to use at trial. AI models are increasingly encroaching on legally sensitive tasks in high-paying sectors such as law and finance, potentially undercutting fees in high-volume work. Garfield received approval from the Solicitors Regulation Authority, the legal regulator for England and Wales, in March, in a move the latter hailed as a "landmark moment" for the industry.

Read more of this story at Slashdot.