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55 I L T A N E T . O R G and extraction, a report can be pulled together in 20 hours with more insights than the previous approach, demonstrating the expertise of the firm. We're already seeing several law firms enjoy similar success with AI. Linklaters is reducing the discovery time on finding similar deals from hours to seconds for more than 750,000 documents from the firm's global offices in 20 countries, allowing them to quickly and easily find precedent documents from past matters. AI search helps the firm to find, analyze, and identify organization information buried in disparate systems regardless of location, to better understand search queries and to provide relevant search answers quickly. M e a n w h i l e , transatlantic law firm Womble Bond Dickinson is leveraging AI-powered search to unlock knowledge and relationships across its 1,000 lawyers and 75 million documents, helping to streamline financial operations. AI brings together data from time and billing systems, fee earner biographies, work product history, knowhow, and other pieces of information, enabling the firm to work more efficiently and better serve their clients. At another well-known multinational law firm, we've seen AI search save 14,500 lawyering hours over six months. Simply put, AI produces differentiated business outcomes. Focus on specific areas. AI is best applied against specific problems (for example, US commercial leases vs all contracts) as models and other pre-packaged knowledge are optimized for specific uses. Use AI not to eliminate 100% of knowledge work, but to eliminate the drudgery, so the focus is on higher value work. Repapering provides an apt example. Contract reviews are done in phases. AI-powered contract extraction can take out 50-60% of a first pass review to identify types of documents, clauses, and terms. This allows more focused, higher-value phases of review and advisory work. It also allows knowledge workers to work more iteratively with the client, based on access to cleaner data earlier in the process. At a multinational telecommunications firm, we've seen AI remove 100% of manual review associated with contract assurance. Meanwhile, we've seen a Fortune Global 500 insurer use AI to cut 50% off the expected review time to identify LIBOR documents with duplicate document detection, saving 1500 hours from the overall review process. Ultimately, these efficiencies can lead to competitive, lower, more outcomes-based fee structures; different insights and outcomes for "Linklaters is reducing the discovery time on finding similar deals from hours to seconds."

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