Source: Enterprise Times
Research by Thomson Reuters has revealed that lawyers perceive huge benefits in adopting AI tools. The Thomson Reuters 2024 Future of Professionals report revealed that UK lawyers believe they will save nearly three hours every week by adopting AI. The amount of time equates to £51,000 per lawyer, per year in terms of time saved through automation. The report is based on a survey of 1,200 UK-based legal professionals.
Interestingly, lawyers believe that AI will provide an increasing amount of automation over time. Three hours per week in the first year, rising to seven after three years and eleven years after five years. Each lawyer would, therefore, save around 1,500 hours over the next five years. Productivity gains could be huge.
Kriti Sharma, Chief Product Officer for Legal Tech at Thomson Reuters, commented, “It’s exciting to see law firms running AI pilot programmes and making long-term investments in the technology as trust around safe usage grows. With 102,000 lawyers working at UK law firms, three hours of time saved per week will help unlock potential for more creativity, strategic thinking and even better service. It also could translate to a significant boost to the UK economy.”
Read full article: https://www.enterprisetimes.co.uk/2024/08/19/uk-legal-professionals-expect-huge-benefits-from-ai/
