Ismail: Generative AI will replace most lawyers
Salim Ismail · The Rise of the Exponential Organization with Peter Diamandis and Salim Ismail · May 25, 2023 · at 52:45
Salim Ismail, co-author of Exponential Organizations, discusses the practical applications and disruptive potential of generative AI models.
0:00 / 0:09exact quote · 9.5s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“The best benefit is we'll replace most of the lawyers. Because you could just say, generate me a contract that has these characteristics and it'll throw in the clauses and et cetera.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Salim Ismail
Ismail: Coase's Law is obsolete due to cheap web service transaction costs
“So in the book, we actually declare Coase's Law, which has been, ah, very touted for a hundred years, essentially gone. Because the pay, the need to control a big company makes it too slow to navigate all these massive changes that are happening. And B, the tr…”
Ismail: Amazon penalizes employee bonuses if their experiments do not fail enough
“We saw, for example, an Amazon that every team is measured on how many experiments they ran this quarter, how many succeeded, how many failed. If you're not running enough experiments and not enough for failing, you're actually, your bonus gets dinged, right?”
Ismail: GE sold its appliance business to Haier after failing to compete
“GE actually gave up and sold GE appliances to them because they couldn't compete.”
Ismail: Top exponential Fortune 100 companies outperformed bottom 10 by 40x
“Over a seven-year period, the top 10 did better than the bottom 10 by three x on revenue growth 6.4 times on profitability, 10.9 times on return on assets, but shareholder returns, compound annual growth rate, top 10 outperformed the bottom 10 by 40 x.”
Ismail: Companies without generative AI will not survive
“If you're not building generative AI into your products and services going forward, you're not going to last.”
Ismail: Apple's real competitive edge is its organizational design, not products
“I will argue that Apple's real real edge is organizational, because what they will do is they will form a small team that's really disruptive. They will put that team at the edge of the company. They'll keep them secret and stealth, and they'll say to them, go…”