After decades of being labelled risk-averse technology laggards, corporate legal departments are emerging as enthusiastic early adopters of artificial intelligence.
Legal services — often information-dense, analytical and procedural — are fertile ground for the AI-powered automation of tasks including drafting contracts and providing initial legal opinions, experts say.
For in-house legal teams considering AI legal tools, an early and important question is whether to build tools in-house or buy them from a software supplier. What are the pros and cons of each approach?
The builders
Given the complexity and cost of designing, testing and rolling out proprietary software, many companies building their own legal AI tools are in the technology sector.
