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Software tools designed for collaboration and visibility, such as Rocket Matter’s legalprojectmanagement software , can also be lifesavers, keeping tasks orderly and encouraging collaboration. For instance, with matter templates , legal teams can automate assigning recurring tasks so that nothing falls through the cracks.
Similarly, document creation in law firms is a complex process that can benefit greatly from automation. Law firms often need to generate legaldocuments based on pre-set templates and case-specific information. This feature ensures that no task falls through the cracks and helps law firms manage their workload efficiently.
The efficacy of AI tools for contract analysis is determined by their ability to understand and track key clauses and terms in contracts and other legaldocuments. It is the process of making an information pattern recognizable for the AI tools and enabling them to deliver intended results.
Consider the following data: A 2020 ABA survey states that just 58% of firms store their data in the cloud, and only 7% of survey respondents used tools that deploy artificial intelligence (AI), despite AI’s popularity in other industries such as finance. . This reluctance poses a productivity and profitability risk for law firms.
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Avoid trust accounting missteps As a general rule, there’s not a lot of room for mistakes in a law practice—and even less in a solo legal practice. The best way to boost your law firm’s finances is to minimize your non-billable hours and make sure that every hour of your day is accounted for. Get free guide See More
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