Amid growing interest in the applications of artificial intelligence (AI) within the legal industry, several corporate legal departments have shifted from mere experimentation to realizing substantial returns on investment (ROI). Murtuza Vohra, managing director of legal consulting firm Morae Global, underscores the urgency, stating, “The more you procrastinate, the more you’re hesitant, the bigger the opportunity cost of not essentially moving the needle.”
As legal departments increasingly integrate AI into their operations, these advancements have demonstrated benefits such as enhanced efficiency, cost reductions, and improved decision-making capabilities. Companies leveraging AI technologies have reported significant improvements in document review processes, risk management, and compliance monitoring.
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