To reduce costs for clients and streamline its operations, Mr. Cannabis Law is 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 of providing 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 of examples are the following:
- Automating medical cannabis license applications, as well as documentation generally required for these applications. While Mr. Cannabis Law has drafted many medical cannabis 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 cannabis 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 the 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.”
For more information:
Mr. Cannabis Law 
www.mrcannabislaw.com