AI's first serious foray into legal may be contract review
Legal Dive
3mo · 5 min
Contract review is emerging as the use case where in-house legal teams are seeing the clearest, most defensible AI return on investment.
Contracting consumes plenty of time for lawyers, so AI’s first broad legal use may be in this area, a survey finds.
Nearly half of legal professionals spend three hours or more reviewing a single contract, according to a recent survey, leading many in-house counsel and firms to consider whether artificial intelligence contract tools might improve their redlining work.
One-third of the 150 respondents in the survey said it takes 3-5 hours to review a contract, while about 10% said they don’t know how much of their time one contract typically requires, according to LegalOn Technologies, which sells contract-review software.…
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