��������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.

Challenge: Increased Efficiency: Time Savings Through Reduced Research, Drafting, Customizing, and Negotiating

AI technologies offer substantial time savings across various legal tasks, allowing in-house teams to operate more efficiently. One Legal AI vendor reported that AI contract review can complete tasks in 26 seconds that would take human lawyers an average of 92 minutes, significantly reducing the time spent on contract analysis and drafting.[85] Contract professionals also spend time just locating documents and finding specific clauses, a process that AI could also streamline.