
If you had to guess, how much time would you say legal professionals can save with AI? A few hours a week? A day?
Try three-quarters of the average workweek.
Yes, you read that right. According to a recent legal trends report, AI has the potential to automate up to 74% of law firms' hourly billable tasks.
Given this startling stat, it's easy to understand why so many attorneys and paralegals are turning to AI tools to manage caseloads, improve work quality and drive growth. However, there is a catch. Although the increased efficiency brought about by AI and automation is one of several key trends shaping law firms, many legal professionals still struggle to implement it effectively.
For that, we have good news.
Progress ShareFile's AI document assistance makes it easier than ever to use AI at work. Let's look at these new features, plus three ways your legal team can start using them today.
ShareFile's AI capabilities for document assistance are designed to extract key insights from large legal documents in a matter of seconds. This includes two primary features:
Legal teams can also use AI assistance to list the main points of a document and rapidly locate any action items. It even adds citations when answering questions, so you can go straight to the page or section where specific information is located.
Attorneys and paralegals can use it to:
Put simply, ShareFile's AI document tools act as a force multiplier. They allow legal teams to handle more documents in less time---freeing attorneys and paralegals to focus on high-value strategic work. And because all Q&A conversations are encrypted, you can rest assured your sensitive information will remain secure.
Ready to start using these features at your practice? Here are three easy ways to get started today.
It's no secret that clients often struggle to understand the complex legal jargon used by attorneys. In fact, surveys show as many as 92% of clients say a lawyer's ability to discuss their case in an understandable way is most important to them when selecting an attorney. In contrast, "legalese" makes clients feel intimidated, disempowered and confused---ultimately damaging the attorney-client relationship.
ShareFile's AI capabilities let you translate legal terms into language your clients will easily understand. Use it to distill complex legal documents into clear, concise summaries for client communication. Instead of spending hours manually explaining intricate legal documents, you can quickly create digestible briefings that enhance the client relationship.
Getting ready for a lengthy trial? AI document assistance with ShareFile is especially helpful when preparing for complex cases involving substantial documentary evidence. Use the AI summary tool to quickly parse through depositions, witness statements and evidentiary documents.
You can also lean on the question-and-answer feature to quickly extract specific information such as dates, names or particular events mentioned across multiple documents. Using ShareFile this way translates into hours of saved time when building case narratives, identifying inconsistencies and preparing targeted lines of questioning for depositions or court proceedings---and can help reduce manual errors or oversight.
M&A case work is grueling---it's challenging, fast-paced, high-stakes work. But with ShareFile's AI document assistance, you can remove a lot of the burden. For example, paralegals can use it to much more efficiently summarize large volumes of financial statements, corporate records and legal agreements.
Likewise, the summarization and main points features not only provide overviews of key information but also help you quickly identify potential red flags and prioritize areas that require deeper human review. Together, these features dramatically compress the time needed for initial document assessment during complex merger and acquisition processes.
To start using ShareFile's AI document assistant, simply navigate to the content viewer of the document you want to review in your ShareFile account. Then select the AI assistant button in the upper-right corner. It's a great way to review and analyze contracts, interpret regulatory guidelines and identify critical obligations---all within seconds, even when the document spans hundreds of pages.
Looking for more ways to simplify your workflows? See how else ShareFile equips your team to fuel growth with AI---no extra headcount needed.