Two decades into the 21st Century, it is abundantly clear that Artificial Intelligence technology will fundamentally change the legal system as well as the economics of our daily lives. During the early years of AI development, computers successfully surpassed humans only in complex games requiring exceptional intelligence (e.g., chess, Go, Shogi). The legal profession assumed that AI would be unable to master the nuances and ambiguities of language and the skills required of first class lawyers. The recent history of AI advancement proved that assumption wrong. When combined with the new focus of neuroscientists and related disciplines on the study of the human brain, AI stands on the threshold of exceeding human intelligence in the areas which have historically been the exclusive domain of the legal profession. There is currently a broad array of important tools in the AI field which lawyers may use to improve efficiency and profitability, These AI tools are just the beginning. We can also anticipate that AI will necessarily and substantially affect decisions traditionally relegated to the autonomy of individual citizenry as well, with dramatic consequences. This paper attempts to identify the implications of AI technology on the legal profession, the broader society in which it operates, and the challenges confronted by the next generation of lawyers and law students.