July 12, 2023 – To reduce costs for clients and streamline its operations, Mr. Cannabis Law, a leading boutique marijuana and psychedelic law firm based in South Florida, is at the forefront of integrating artificial intelligence (AI) into cannabis and psychedelic law practices.
Mr. Cannabis Law is investing $100,000 in the firm’s AI initiative, allowing it to further its goal to provide quality work similar to large law firms, but at a far better price. While AI tools are in place for general law firms, currently there are no specific AI tools for cannabis and psychedelic law practices.
“Practicing cannabis and psychedelic law requires very specifically tailored legal work, including contracts, applications, private offering documents, ownership transfer documentation, real estate documentation and more,” said Dustin Robinson, Esq., CPA, founding partner of Mr. Cannabis Law. “With the progress in AI, much of this work can be automated, increasing efficiencies for law firms and ultimately reducing costs to clients.”
While Mr. Cannabis Law’s AI initiative will allow the firm to provide work more efficiently, a firm attorney will carefully review, tailor and personalize the work produced via AI. The firm will send the client the drafts of the applicable documents, and then continue to iterate them until they are final.
Over the next two years, Mr. Cannabis Law plans to incorporate various AI initiatives. A couple examples are the following:
- Automating medical marijuana license applications, as well as documentation generally required for these applications. While Mr. Cannabis Law has drafted many medical marijuana applications in various states in the U.S. ― typically a long, cumbersome and costly process ― using AI will significantly lower the cost of application drafting and other legal documentation. With a goal to decrease the typical $300,000 – $400,000 application cost (in competitive states such as Florida) to $30,000 – $40,000 per application, Mr. Cannabis Law hopes to open medical marijuana license application opportunities to marginalized communities and low income applicants.
- Automating cannabis real estate deals. Due to cannabis being federally illegal and municipalities having specific ordinances relating to cannabis business, cannabis real estate deals are complex. By incorporating AI, Mr. Cannabis Law will streamline these real estate deals, ensuring that clients are compliant with various cannabis-specific regulations.
“Ultimately, I believe that law firms that don’t embrace AI will be left behind,” Robinson continued. “Having embraced technology since our founding, we are pleased to now integrate AI initiatives into our practice, which will greatly benefit our clients.”
Mr. Cannabis Law is committed to leading the way in the cannabis and psychedelic law industry and is proud to continue to innovate with technology such as AI.
About Mr. Cannabis Law
Mr. Cannabis Law is a leading law firm in Ft. Lauderdale, Florida, providing full-service expert legal advice and representation in cannabis and psychedelics. With a team of highly skilled attorneys, the firm is committed to providing exceptional service to its clients and promoting the well-being of its employees. For more information about Mr. Cannabis Law and their commitment to mental health and team culture, please visit their website at https://mrcannabislaw.com/.