Morgan & Morgan, the largest plaintiff law firm in America, has announced it will spend at least $1 billion on legal tech and AI over the next 10 years, as it formally unveils MX2, its own legal AI platform.

In June this year, a Reuters article reported their revenues at $2.4 billion. So, $1 billion over 10 years, is $100m per year, which is still a lot of money….but, is around 4% of annual total income for the firm. Interestingly, the same article – here, suggests the firm recently has been exploring the idea of external investment.

The firm stressed that it’s not only Big Law firms that can make major investments into AI. They added that the new plans build on the $300m that Morgan & Morgan has spent in the last five years on tech already.

Co-founder, John Morgan, commented: ‘Firms which bill by the hour to draft and review agreements or read through thousands of pages of documents, are the practices AI will replace almost entirely.

‘That’s white shoe, Big Law territory. Trial lawyers are a very different story. No robot is walking into a courtroom to deliver a closing argument. Big Law is just beginning to think about AI investment, but we’ve been building for years to better service our clients’ needs. We have been years ahead of the industry and are committed to maintaining our lead.’

Of course, some large commercial firms may have a different perspective.

In terms of what MX2 does, it has several core aspects:…

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