How AI is Reshaping Legal Work

The shift in the legal industry brought about by AI is not just a subtle refinement but a complete overhaul. For law firms willing to adopt and adapt, the onset of AI is an opportunity to redefine their operations and services, improve efficiency, and deliver higher value to clients. With 27% of firms already using AI tools and an additional 43% actively researching it, we investigate how AI has become a formidable force in legal work, transforming it from the inside out.

A new dawn in document management

Gone are the days of manual sorting through heaps of documents and files. AI systems today are proficient at not only storing and managing data but also at understanding and organising it. With document management being a foundational and often time-consuming task in the legal profession, this AI capability is a game-changer.

AI platforms equipped with machine learning can now review contracts and legal documents with incredible speed and precision. They spot inconsistencies, provide summaries, and even accelerate discovery processes, which historically involved labour-intensive scrutiny by legal teams.

LawGeex found that, when reviewing legal documents, AI had an accuracy of 94% and completed 5 NDAs in just 26 seconds, compared to the average lawyer accuracy of 84% and speed of 92 minutes. Freeing up an additional 91 minutes and 34 seconds for fee earners to focus on more pressing legal matters.

Capturing time, enhancing value

Time is money, especially in the legal domain. AI’s efficiency in capturing billable hours not only saves time for lawyers but also increases the accuracy of the billing process.

AI-based solutions offer automated time capture, tracking billable hours as lawyers go about their work. By integrating with tools attorneys already use, these systems record and categorise tasks, minimising billable hour leakage and ensuring that no work goes unnoticed.

Offering insights into value-based billing, helping firms understand which services and tasks provide the most significant returns. This strategic approach to billing could potentially reshape how a firm structures its services and client arrangements.

 

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