Despite the growing presence of AI tools in the legal profession, only 22% of firms have a comprehensive AI strategy, leaving many to operate without direction. According to the Thomson Reuters report, firms with a clear strategy are not only twice as likely to experience growth but 3.5 times more likely to realize tangible benefits from AI. The report suggests that while some firms lack plans entirely, a more alarming trend is the 43% that are navigating AI adoption haphazardly, potentially missing out on significant operational efficiencies and risking malpractice.
While headlines have focused on the gap between the 31 percent with no plans for adoption and everyone else, the more pressing concern might be the 43 percent just winging it.
Thomson Reuters estimates AI will save professionals five hours a week—or nearly 240 hours per year—which they estimate as about $19,000 per professional annually.
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