As artificial intelligence (AI) technology continues to evolve, some industry leaders are openly expressing concerns about its implications for various job sectors. Victor Lazarute, a venture capital investor with Benchmark, asserts that while many technology companies claim AI aims to enhance human roles, the reality may be quite different, especially for certain professions.

Predictions on AI’s Role in Employment

In a recent episode of the podcast “The Twenty Minute VC,” Lazarute shared his perspective that AI may not only augment but essentially replace certain jobs. He emphasized that two fields, in particular, should be cautious: the legal profession and recruitment.

AI in the Legal Industry

Lazarute projected that within three years, AI could take over many routine tasks in law, potentially affecting a wide range of legal jobs. The integration of AI into legal workflows is already underway, with tools like those developed by Legal Tech Startup Libra assisting thousands of attorneys and law firms. These advanced AI systems facilitate various aspects of legal work, including research and document review.

A study conducted by researchers from the University of Michigan Law School indicates that AI can enhance the quality of legal analyses produced by law students, with improvements noted to be as high as 28%.

The competitive landscape among law firms is shifting as well, with a Thomson Reuters survey revealing that AI leads the list of priorities for legal firms globally.

AI in Recruitment Processes

Shifting focus to the recruitment sector, AI is transforming how companies identify and interview candidates. Research from JobScan indicates that an overwhelming 99% of Fortune 500 companies leverage AI tools to filter job applications, showcasing AI’s significant integration into early-stage hiring processes. Additionally, a Resume Builder survey found that more than 40% of companies employed AI technologies to conduct candidate interviews by 2024.

A surge in AI-driven recruitment startups illustrates the industry’s shift towards automation. For instance, Optimhire secured $5 million in seed funding to enhance its AI recruitment platform, while Converzai raised $16 million and Mercor raised $100 million to develop AI solutions for screening candidates.

Future Outlook: New Opportunities Awaits

While Lazarute acknowledges the potential disruption caused by AI, he also points to the opportunity for innovation and new ventures. He believes that small teams could harness AI technologies to create substantial enterprises, reaffirming the dual nature of AI as both a disruptor and a catalyst for new business models.

With Benchmark’s backing of various tech companies, including Asana, Snap, and Uber, Lazarute’s insights serve as a critical reminder for professionals in the legal and recruitment industries to adapt to the evolving landscape shaped by AI.