As the adoption of generative AI continues to rise within corporate law departments, an increasing number of these departments are anticipating a reduced reliance on outside counsel for handling routine tasks. According to a recent survey conducted by the Association of Corporate Counsel and Everlaw, 58% of legal departments expect generative AI to lessen their dependence on external service providers.
The survey, which gathered responses from 475 law department professionals, highlights the burgeoning impact of AI on the operational strategies of in-house legal teams. This figure markedly surpasses the 25% of respondents in a previous 2023 survey who indicated plans to cut down on the number of law firms they collaborate with, primarily attributing this to cost-effectiveness considerations.
Gloria Lee, Everlaw’s Chief Legal Officer, remarked on the evolving landscape, stating, “The expectation for in-house teams to cut costs with AI is becoming a reality, with over a quarter now reporting savings.” Her statement underscores the transformative influence that AI technology has begun to exert within corporate counsel, signaling a fundamental shift within the legal industry.
For further information on the survey results and the implications for legal departments, please refer to Business Wire.