³ÉÈËÓ°Òô

Generative artificial intelligence (AI) was once a luxury. But it has fast become a necessity. The benefits are substantial, even in early iterations. AI , automates tedious and repetitive tasks, , and even improves staff .

Law firms failing to onboard generative AI, and lawyers failing to use AI, will find themselves at a competitive disadvantage, struggling in a fierce, complex, and hyper-competitive market.

Despite the clear benefits of generative AI, law firms seem reserved. ³ÉÈËÓ°Òô' latest surveyfound just over a third (36%) of lawyers, for example, said they use generative AI. But, while some people are still holding up a question mark over application, one thing appears certain: generative AI will change everything. Law firms and lawyers using the tech will inevitably reap rewards, in terms of effectiveness and efficiency. Those that fail to use generative AI will be left behind.

The tide is turning towards generative AI, with some firms and practice areas leading the way. In this article, we explore three ways that lawyers and firms can use generative AI, with reference to legal research, drafting and analysing documents, and supporting due diligence.

Performing legal research

The ³ÉÈËÓ°Òô report shows that two-thirds of respondents (66%) would use generative AI for legal research. It was the most referenced use of AI. That is unsurprising, as generative AI is well suited to the task. AI already powers various legal research platforms, providing lawyers with quick and easy access to legal information. Platforms rely on curated sources – ranging from caselaw to legal analysis to legal news – to produce the best possible results for the user.

AI-powered systems allow interaction to bolster research. Lawyers can add prompts to prompts, build on the initial query, or ask for information about the origin of sources. The best platforms will allow filtered results, so lawyers can access even the most obscure information.

Drafting and analysing documents

A shows that the average lawyer spends only two-and-a-half hours per day on client-facing tasks. The rest is spent on bureaucracy and admin. A echoes that sentiment, showing that nearly two thirds of legal work is routine or repetitive.

Lawyers are all-too-often held back by too many meetings, meetings about meetings, hierarchical structures, too much documentation, and other elements of bureaucracy.

Generative AI helps lawyers get rid of admin. The tech is perfectly primed for drafting. It can draft anything, in seconds: briefs, memos, clauses, emails, speeches, even poems.

Users can dictate the tone of voice, guide the grammar, even ask the AI to . If you want a haiku written about famously complex litigation in the voice of Mickey Mouse, generative AI tools can provide that in roughly three to four seconds.

It's no surprise that lawyers picked briefing documents (59%) and document analysis (47%) as two of the most popular use cases for generative AI. Using AI to draft and analyse documents depends on various smaller tasks, all of which are covered by AI systems and tools.

AI-powered platforms can, for example, write an initial contract or agreement, scan pre-existing paper documents to extract information, examine pre-existing documentation to check for inconsistencies or errors, ensure compliance with relevant laws and regulations, automate the organisation of documents, and allow for faster retrieval.

Conducting due diligence

Due diligence was seen as a core use of AI for lawyers at larger firms, particularly for mergers and acquisitions (M&A). M&As are complex processes, involving vast amounts of data, various regulatory demands, high stakes and lots of stakeholders, and tight deadlines.

AI-powered systems, with their speed and accuracy, have become increasingly important in supporting due diligence. Lawyers can use a technology called robotic process automation, which deploys software to help with data entry, data mapping, and data extraction.

Lawyers can essentially perform investigatory analysis on all the information relevant to the M&A: employee and vendor contracts, financial statements, intellectual property, and so on.

The tech will highlight anything that raises compliance problems, or presents business risk. That might include anomalies in financial data, unusual clauses or provisions in contracts, or any other irregularity or abnormality. AI can also predict outcomes around M&As, which adds to decision-making capabilities and provides lawyers with all the information they need. 

AI and the future of law

Completing legal research, drafting and analysing documents, and performing effective due diligence are vital tasks. But the use of AI extends far beyond the three we’ve mentioned.

Other popular uses, mentioned in the ³ÉÈËÓ°Òô report, included writing emails, business development activity, and coding for internal IT systems. And new uses are arriving all the time, as the tech progresses and lawyers become increasingly creative with the AI systems.

One thing is certain: AI will define the future of the legal sector. Lawyers and law firms need to keep up. That’s why ³ÉÈËÓ°Òô launched the AI Insider programme, providing exclusive access to insightful webinars, expert-produced content, and crucial updates on the best upcoming AI products. The programme helps legal professionals to move from AI theory to application, understand the risks of AI, and ultimately use AI responsibly and effectively.