The consequences of your firm not adopting AI according to Leap

The legal industry is at a critical turning point. Digital transformation is no longer optional—it’s a necessity for staying competitive. According to a 2024 Trends Report, 60% of law firms are planning to upgrade their digital systems, acknowledging that technology is essential for efficiency and profitability.

Despite some hesitancy, the impact of AI in the legal industry is undeniable. Goldman Sachs estimated that AI could automate up to 44% of legal tasks, allowing firms to operate more efficiently and profitably.

Many legal professionals already rely on AI to streamline time-consuming tasks and enhance accuracy in their work. Among the most common AI applications in law firms:

  • Legal research: AI-powered tools assist in quickly retrieving relevant case law and legal precedents—saving valuable time. In fact, 50% of lawyers use AI specifically for research.
  • Summarising case law: AI can analyse and summarise complex legal documents, providing clear, concise insights—28% of legal professionals use AI for this purpose.
  • Reviewing documents for litigation: AI enhances efficiency by identifying key information in contracts, discovery materials, and litigation documents—15% of lawyers leverage AI for document review.
  • 49% of law firms fail to meet even half of their billable hour targets.
  • 45% of firms are struggling with financial pressures and are actively seeking efficiency improvements.
  • ‘Task overload’ is one of the leading causes of lawyer dissatisfaction, with nearly 50% of dissatisfied legal professionals citing stressful deadlines and an unmanageable workload as the main culprits.
  1. Staff output – How AI enhances productivity and workflow efficiency.
  2. Manual time recording – The inefficiencies of traditional timekeeping methods.
  3. Lack of efficiency and the client experience – How AI can enhance client service and satisfaction.
  4. Retaining talent – How AI adoption can help mitigate burnout and job dissatisfaction.
  5. Reduced profits – The financial impact of neglecting AI-driven efficiency improvements.

LEAP is a cloud legal software solution for small law firms wishing to become more efficient, more flexible and make more money!