According to the LexisNexis 2024 Investing in Legal Innovation Survey, corporate executives report the highest degree of current Gen AI usage (50%) and 68% of corporate respondents approve of the use of Gen AI for legal matters.
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70% Agree GenAI Adds Value
Large law firms believe generative AI will enable a variety of new value-added work for clients.
47% Agree GenAI Enables New Business
Large law firms are exploring new lines of business and new billable opportunities only possible because of generative AI.
90% Agree Investment Expected to Rise
Large law firms and corporations expect their investment in generative AI to increase over the next five years.
38% Hiring More Technologists
Am Law 200 firms expect to hire more data scientists and engineers to support generative AI initiatives this year.
