Cleary Gottlieb Acquires Springbok AI to Boost Legal Tech Innovation.
Cleary Gottlieb Makes Rare Move, Acquiring Legal Technology Firm Springbok AI.
New York law firm, Cleary Gottlieb Steen & Hamilton has made a strategic move by acquiring Springbok AI, a London-founded consultancy that specializes in developing artificial intelligence (AI) tools for the legal industry
This acquisition is part of a broader trend in which law firms are increasingly looking to integrate AI into their operations. While many law firms prefer to contract with external vendors, Cleary is taking a unique step by bringing a technology company in-house, marking a rare approach in the legal industry.
Springbok AI Acquisition: A Strategic Move for Cleary
The acquisition of Springbok AI is a notable development in the growing role of artificial intelligence in law. Springbok AI, known for creating innovative AI-powered products for lawyers, has previously collaborated with several law firms. With this acquisition, Cleary Gottlieb aims to build its own AI tools and integrate them into its operations, positioning itself ahead of competitors who are still working with external vendors or developing AI capabilities internally. The financial details of the deal have not been disclosed, but the impact of this acquisition on Cleary's tech-driven legal services is expected to be significant.
AI Technology Transforming the Legal Industry
Artificial intelligence has become a key focus in the legal industry, with promises to revolutionize the way lawyers perform tasks. According to a 2024 survey by Thomson Reuters, 63% of lawyers have used AI tools for their work, and 12% rely on them regularly. The growing reliance on AI in law firms highlights the potential for AI to improve efficiency and enhance client service. By acquiring Springbok AI, Cleary Gottlieb intends to take a leadership role in AI adoption, creating custom solutions that will streamline processes and deliver a competitive advantage.
Cleary’s Plan to Build In-House AI Capabilities
Cleary’s managing partner, Michael Gerstenzang, emphasized that this acquisition will allow the firm to create tailored, AI-powered solutions. He pointed out that this move "immediately enables us to create custom AI solutions," setting Cleary apart from many competitors. Law firms often collaborate with external vendors or build internal teams slowly, but Cleary’s strategy accelerates its AI capabilities by bringing Springbok’s expertise in-house. This approach is designed to help Cleary integrate technology more seamlessly and efficiently into its practices, differentiating the firm in an increasingly competitive legal landscape.
Challenges in Building AI Teams Within Law Firms
Creating internal AI teams is a significant challenge for law firms, and experts in the legal tech field note that it can be difficult to attract and retain talent with the necessary skills in data science and AI. As Daniel Linna, director of law and technology initiatives at Northwestern University, points out, “Building data science and AI teams in law firms is not easy.” By acquiring Springbok AI, Cleary bypasses the time-consuming process of hiring and training a team from scratch. This strategic acquisition brings in key personnel, including Springbok AI’s co-founder and CEO, Victoria Albrecht, along with 10 data scientists and AI engineers, who will form a new specialized team at Cleary.
Cleary’s Broader AI Strategy: ClearyX and Client-Focused Solutions
Cleary’s director of practice innovation, Ilona Logvinova, explained that the newly-formed team will focus on developing AI solutions for internal use to meet client needs more effectively. In addition to its legal operations, Cleary also has a subsidiary, ClearyX, which works on technology-driven projects directly with clients. By strengthening its AI capabilities, Cleary is positioning itself not just to enhance its own efficiency but also to provide cutting-edge technology solutions to its clients. This dual focus on both internal processes and client-facing services demonstrates Cleary’s commitment to becoming a leader in the legal tech space.
The Future of Legal AI: Cleary's Position in a Rapidly Evolving Market
Cleary Gottlieb’s acquisition of Springbok AI is a bold move that highlights the growing importance of artificial intelligence in the legal industry. As more law firms explore AI to enhance their operations and improve client services, Cleary’s proactive approach gives it a distinct competitive advantage. By developing custom AI tools in-house, Cleary aims to stay ahead of the curve in a market where innovation is key to attracting and retaining clients.
As the legal landscape evolves with the integration of AI, this acquisition positions Cleary as a forward-thinking firm ready to leverage technology to meet the demands of the modern legal world. With the addition of Springbok AI’s expertise, Cleary’s capabilities will expand, offering a unique opportunity to drive further advancements in legal technology.
The acquisition of Springbok AI by Cleary Gottlieb underscores a pivotal shift in how law firms are approaching technology. As the legal industry continues to adopt AI, Cleary’s move is an example of how firms can strategically position themselves by integrating cutting-edge technology. By bypassing traditional vendor relationships and building an in-house AI team, Cleary is not just keeping up with industry trends but setting itself apart in a rapidly evolving market. This acquisition will likely have a lasting impact on the firm’s operations and its ability to serve clients with innovative, AI-driven solutions.
