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According to the 2025 In-House Legal Budgeting Report from Axiom and Wakefield Research, 96% of general councils said they expect “AI will meaningfully reduce costs within their legal department.” As we step into 2025, we’ll continue to experience technological evolution at an unprecedented pace that will reshape how law firms operate.
In our forthcoming Spring 2025 publication, Fighting the Hypothetical: Why Law Firms Should Rethink the Billable Hour in the Generative AI Era, [1] we hypothesize that Generative AI (GenAI) technology will change forever how legal services are delivered and will force law firms to re-engineer their legacy economic model.
Across briefings, it became clear that legaltech vendors are no longer just layering AI onto existing products — theyre embedding it deeply into their platforms to surface meaningful insights from the data they already manage. The tool is designed to automate over 80% of review processes and complete them up to 90% faster than TAR.
I’m holding a FREE 5-Day Paralegal Challenge that kicks off on March 24, 2025. Corporate work is nothing like family law, which is nothing like personal injury. ” Years ago, when I was doing management consulting with law firms, an attorney told me something I’ve never forgotten.
In fact, Statista reports that global revenues from enterprise applications making use of AI are expected to increase by almost $30B by 2025. Artificial intelligence is a useful tool becoming more widely used in real-world applications that learn to complete tasks ordinarily done by humans. The Current State of AI Technology.
During the COVID-19 pandemic, corporate legal departments and law firms around the world struggled to meet the new normal’s demands. The process of a company, usually a legal firm or an in-house legal department of a company, seeking the support of a third party for legal allied services is known as legal process outsourcing (LPO).
VoiceScript Ai.Law Elevator Pitch: Provides AI-generated litigation documents, from pleadings to discovery. We are the first AI-driven platform to focus specifically on drafting litigation documents. The substantial amount of time lawyers spend drafting documents during litigation. What makes you unique or innovative?
They slogged through documentreview, churned out first drafts, and otherwise served at the beck and call of their senior colleagues while drowning under the crushing weight of student loans. Alternative legal services providers (ALSPs), on the other hand, could join forces with AI and decimate the junior ranks.
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