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In‑House Legal Teams Embrace AI for Efficiency

Financial Times Companies •
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In-house legal teams get creative with AI tools, seeking innovative applications to boost efficiency. Challengers test defences of legal tech stalwarts while incumbents upgrade products, emphasizing authoritative content and expertise that legal teams can trust. AI legal‑tech start‑ups offer an alternative career path for lawyers, attracting those who want to join a dynamic business and influence the wider legal sector.

Four champions of speed in legal operations guide teams on using new tools and processes to solve perennial challenges. Six companies are pushing the legal world into the AI era, each exploring the tech’s potential to transform services with its own approach. Although AI agents promise autonomous handling of complex jobs, legal teams remain cautious and keep a human in the mix for legal tasks.

More in‑house teams will be enabled to do low‑cost, routine work themselves. Suppliers are updating services, and lawyers weigh building products internally versus buying third‑party solutions. 20 initiatives showcase time‑ and money‑saving applications in contracts, procurement, and other everyday processes, while digital ratings aim to speed up purchase of legal services.

Generative AI turns the spotlight on contract management, prompting deals around data‑rich digital documents. Some legal heads say bringing tools in‑house will reduce reliance on outside suppliers, and a universal taxonomy could underpin lawyers’ use of generative AI. Pioneers line up on legal tech, expecting new rivalries and alliances as providers join forces to build transformative tools for clients.