Source: LexisNexis
“The amount of time that generative AI is going to save both in-house and private practice legal professionals means that so much more time can be spent on tasks that are more complex and stimulating,” said Bradley Collins, Co-Founder and CEO, LegalTechTalk.
The LexisNexis September 2024 survey found that 82% of lawyers now use, or plan to use, AI for work, with in-house teams leading this revolution at 89%.
Their latest survey revealed:
- The number of lawyers using AI has jumped to 41%, up from 11% in July 2023
- Those with no AI plans have plummeted from 61% to 15% over the same time period
- Only one in five lawyers believe AI will not improve their work-life balance.
With the increasing adoption of this technology, the number of lawyers who believe AI will help them deliver work faster has dramatically risen to 71% in September 2024. Other top benefits were a better client experience (54%) and a competitive advantage (53%).
The LexisNexis September 2024 survey revealed the top three challenges over the next 12 months in the workplace as being:
- Attracting and retaining good lawyers (43%)
- Keeping pace with new technology (41%)
- Cybersecurity (40%)
Unfortunately, this means declining internal resources, rising client expectations, and widespread disruption for most.
Yet with AI’s promising rise in popularity, the winds could quickly change.
Read the full article: https://www.lexisnexis.co.uk/insights/ai-soothing-stress-in-the-legal-sector/index.html
