Artificial intelligence (AI) is being increasingly utilized in the legal research industry to streamline processes, improve efficiency, and reduce costs. AI-powered legal research platforms can analyze large volumes of data and identify relevant information quickly, allowing lawyers to focus on higher-level tasks such as counseling clients and negotiating with opposing counsel. According to a study involving 750 BCG employees, generative AI can accelerate specific tasks such as idea generation by 25% and improve quality by 40%.
One of the primary use cases for generative AI in legal research is its ability to help lawyers make informed, data-driven decisions. AI-powered legal research tools can analyze legal texts, identify patterns and trends, and provide insights that would be difficult or impossible for humans to uncover on their own. For example, AI can help lawyers predict legal outcomes, draft contracts, and recommend sentencing decisions. AI-powered legal research platforms such as Thomson Reuters' Westlaw Precision use AI to provide lawyers with editor-created answers to legal questions, enabling them to find the answers they need faster and with high confidence. Overall, AI is transforming the legal research industry by automating mundane tasks, freeing up lawyers' time to focus on more complex legal matters, and improving the quality and speed of legal research.