Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

by admin June 26, 2025
June 26, 2025
Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

Chris Schwegmann is getting creative with how artificial intelligence is being used in law.

At Dallas-based boutique law firm Lynn Pinker Hurst & Schwegmann, he sometimes asks AI to channel Supreme Court Chief Justice John Roberts or Sherlock Holmes.

Schwegmann said after uploading opposing counsel’s briefs, he’ll ask legal technology platform Harvey to assume the role of a legal mind like Roberts to see how the chief justice would think about a particular problem.

Other times, he will turn to a fictional character like Holmes, unlocking a different frame of mind.

“Harvey, ChatGPT … they know who those folks are, and can approach the problem from that mindset,” he said. “Once we as lawyers get outside those lanes, when we are thinking more creatively involving other branches of science, literature, history, mythology, that sometimes generates some of the most interesting ideas that can then be put, using proper legal judgement, in a framework that works to solve a legal problem.”

It’s just one example of how smaller businesses are putting AI to work to punch above their weight, and new data shows there’s an opportunity for much more implementation in the future.

Only 24% of owners in the recent Small Business and Technology Survey from the National Federation of Independent Business said they are using AI, including ChatGPT, Canva and Copilot, in some capacity.

Notably, 98% of those using it said AI has so far not impacted the number of employees at their firms.

At his trial litigation firm of 50 attorneys, Schwegmann said AI is resolving work in days that would sometimes take weeks, and said the technology isn’t replacing workers at the firm.

It has freed up associate lawyers from doing “grunt work,” he said, and also means more senior-level partners have the time to mentor younger attorneys because everyone has more time.

The NFIB survey found AI use varied based on the size of the small business. For firms with employees in the single digits, uptake was at 21%. At firms with fifty or more workers, AI implementation was at nearly half of all respondents.

“The data show clearly that uptake for the smallest businesses lags substantially behind their larger competitors. … With a little attention from all the relevant stakeholders, a more equal playing field is possible,” the NFIB report said.

For future AI use, 63% of all small employers surveyed said the utilization of the technology in their industry in the next five years will be important to some degree; 12% said it will be extremely important and 15% said it will not be important at all.

Some of the most common uses in the survey were for communications, marketing and advertising, predictive analysis and customer service.

“We still have the need for the independent legal judgment of our associate lawyers and our partners — it hasn’t replaced them, it just augments their thinking,” Schwegmann said. “It makes them more creative and frees their time to do what lawyers do best, which is strategic thought and creative problem solving.”

The NFIB data echoes a recent survey from Reimagine Main Street, a project of Public Private Strategies Institute in partnership with PayPal.

Reimagine surveyed nearly 1,000 small businesses with annual revenue between $25,000 and $50,000 and also found that a quarter had already started integrating AI into daily workflows.

Schwegmann said at his firm, AI is helping to even the playing field.

“One of the things Harvey lets us do is review, understand and incorporate and respond much faster than we would prior to the use of these kinds of AI tools,” he said. “No longer does a party have an advantage because they can paper you to death.”

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Offense vs. Defense: How Geopolitical Tensions Shape Market Trends
next post
Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

Related Posts

Applebee’s owner plots turnaround to lure back fast-food...

May 10, 2024

Peloton CEO Barry McCarthy to step down, company...

May 3, 2024

Walgreens plans store closures as CEO says consumers...

June 28, 2024

What to expect as the Fed prepares its...

December 13, 2023

Several Buy Buy Baby and Harmon stores to...

August 19, 2023

FTX customers may get their money back, but...

May 10, 2024

People are still being awful on flights, and...

June 18, 2023

U.S. judge finds Google holds illegal online ad...

April 19, 2025

Advertisers boost spending at retailers such as Walmart...

May 25, 2024

Housing market may be thawing as rates dip...

December 13, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • This Tool Could Change Your Options Trading Forever

    • Four Symbols, One Big Message: What the Charts are Telling Us

    • 30 Dow Stocks in 20 Minutes: Joe Rabil’s Mid-Year Technical Check

    • Simpler Charts, Better Results? Use This Trick to Trade Smarter With Less

    • Barrick Mulls Canadian Exit as Mali Gold Tensions Escalate

    • Apple, MP Materials Ink US$500 Million Deal to Build US Rare Earth Magnet Supply Chain

    Categories

    • Business (1,291)
    • Investing (2,687)
    • Politics (3,699)
    • Stocks (1,727)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved