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Note: This article is just one of 60+ sections from our full report titled: The 2024 Legal AI Retrospective - Key Lessons from the Past Year. Please download the full report to check any citations.

AI-Assisted Document Drafting

A 2023 study found that almost half of lawyers use generative AI tools for drafting documents.[44] By using AI for work which would usually be passed to junior lawyers, law firms can expect to experience a reduction in billable hours for routine tasks. In fact, the World Economic Forum estimates that lawyers will gain back 46% of their time through the use of generative AI.[45]

Not only can AI-powered drafting tools increase the speed at which legal documents can be produced, they can also improve consistency across documents.[46]