Whether it's a small firm specializing in personal injury, a midsize firm focused on multiple practice areas across the board, or a BigLaw powerhouse, all firms have a bottom line: growing revenue.

Although there are many ways to drive revenue growth, acquiring clients using powerful artificial intelligence is slowly but surely becoming one of the most predictable methods for law firms looking to amass high-value cases and clients.

AI Transforms The Legal Industry

In recent years AI has disrupted major industries such as healthcare, manufacturing, and finance, and the business of law is no exception. From automating document review to creating contracts to providing predictive analytics that helps attorneys win cases, AI can be used in a variety of ways to benefit law firms. With the help of AI, attorneys can focus on the more important aspects of their cases, and law firms are able to run more efficiently – and, profitably.

Benefits of AI for Law Firms

There are many benefits that AI can provide to law firms, including:

• Reducing the time needed to complete tasks: AI can automate simple tasks such as document review and contract creation, freeing up attorneys to work on more complex tasks.

• Improving accuracy and consistency: By using AI to handle repetitive tasks, law firms can improve accuracy and consistency while also reducing the potential for human error.

• Predictive analytics: AI can analyze large data sets to identify trends and provide predictions that can help attorneys win cases.

• Discovery: AI can help law firms save time and money on the discovery process by identifying relevant documents and evidence.

• Contract management: AI can streamline the contract management process by creating, reviewing, and negotiating contracts.
• Litigation analysis: AI can review precedents, case law, and other legal documents to help attorneys determine the viability of litigation.

Law firms aren't just adopting AI tools and hoping for the best. AI is already having a profound impact on the legal industry as a whole. Astudy conducted by National Legal Research Group, Inc., found that AI helps attorneys conduct legal research almost 25% faster than traditional research methods. The same report indicated that participating attorneys felt that the results they received were 21% more accurate and were completed with 4 times fewer searches.

AI Has Been Adopted by Some of the Biggest Law Firms in the World

AI is no longer science fiction; it's now being used by some of the biggest law firms in the world to increase profits and grow revenue. One example is Shearman & Sterling, a multinational law firm with over 850 attorneys, which utilizes a diverse set of AI tools. One specifically is Kira (owned by Litera), which the firm uses for due diligence.

Another example of how the AI trend is benefitting law practices is that of Orrick, Herrington & Sutcliffe. The firm is using Clearbrief, which is an AI-based, Microsoft Word plug-in to improve the quality of its legal work. The tool suggests improvements for briefs such as relevant case law examples, that may have been overlooked, to bolster their positioning and arguments.

Thompson Hine, an Am Law 200 firm, has incorporated AI in a different way. The firm has built out proprietary software to assist with budgeting by applying past data to predict the cost of new and future matters.

AI Can Do More Than Help Win Cases

AI has proven to be beneficial in several ways for law firms, but one aspect of the technology that is directly responsible for driving revenue is its ability to drive new clients and cases.

Utilizing artificial intelligence for digital marketing has already been widely adopted by some of the biggest brands in the world, such as Amazon, Sephora, and even Google. One of the leading companies in the space, The White Letter Group, caters exclusively to law firms, leveraging AI to bolster digital marketing, online visibility, and firm credibility – driving fresh streams of clients, cases, and revenue in the process.

Traditionally, law firms have generated business through word-of-mouth, referrals, and advertising. However, with the rise of digital, these methods are no longer as effective as they once were. There's also no way to effectively scale these methods to reach targeted prospects. White Letter Group’s AI-powered solution for law firms is a total game changer, helping firms attract and acquire high-value clients by blending artificial intelligence with digital marketing, while simultaneously building authority and trust around a firm’s brand name, all of which help laser-target an inflow of quality cases and clients.

White Letter’s artificial intelligence solution is built around the premise that, for law firms, getting the right message in front of the right prospect at the right time is critical. The end result is targeted traffic, which turns into qualified leads, which then convert into quality clients. Long-term, this provides a more predictable and profitable means of acquiring high-value cases and exponentially growing revenue.

Building a practice with a suite of reliable AI-powered solutions makes growing a practice equally efficient and effective. For law firms in search of an edge, AI provides endless opportunities to do so, from increasing the accuracy and speed of legal research, to predicting costs that can assist with budgeting, to predictably acquiring high-quality clients and cases.