��������Ƶ

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 Becomes an In-house ALSP

Note for non-US readers: ALSP's in your region may be referred to as LPOs, MLSP, LSP or even NewLaw.

AI technologies are democratizing access to legal information and expertise, potentially reducing the need for outsourcing to Alternative Legal Service Providers (ALSPs) for routine tasks. Another Legal AI vendor stated that companies using AI-powered contract management systems saw an increase in contract compliance across departments.[86]

With AI handling routine tasks, ALSPs may shift their focus to more strategic, high-value work such as complex litigation and transactional matters. Interviews conducted while drafting this report found that in-house legal teams using AI for routine tasks otherwise aimed at their ALSP were able to redirect their ALSP engagements towards more strategic legal work.

Research done as part of this report revealed a desire to treat AI like an ALSP. Legal AI will soon take a list of things which are acceptable or unacceptable to your organization, and train on your templates and parameters. You will then be able to put counterparty contracts in for review, and automate the action you would otherwise have manually taken, while still relying on your knowledge, your experience, your playbook. If you don't do this, you can guarantee that the ALSPs will, so they can remain competitive on price.

"There's no single authority who is up to date with the tools and the tech. So you have to get involved and see what you can achieve yourself and with your own team (or buy from someone like ��������Ƶ who has a team solving the problem you've got"

Oliver Asha, Head of Legal, UK