Goldman Sachs, Morgan Stanley and Citi say AI tools now handle routine legal tasks faster.
The Financial Times reports that Goldman Sachs, Morgan Stanley and Citi have informed major law firms their invoices must decrease. The banks point to AI systems that complete routine legal work in less time. The piece describes direct communications from the institutions to their outside counsel on expected cost reductions tied to the technology. No further details on responses from the firms or implementation timelines appear in the supplied post.
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Goldman Sachs, Morgan Stanley and Citi say AI tools now handle routine legal tasks faster.
The Financial Times reports that Goldman Sachs, Morgan Stanley and Citi have informed major law firms their invoices must decrease. The banks point to AI systems that complete routine legal work in less time. The piece describes direct communications from the institutions to their outside counsel on expected cost reductions tied to the technology. No further details on responses from the firms or implementation timelines appear in the supplied post.
Financial Times@FTWall Street banks push Big Law to cut fees because of AI https://ft.trib.al/zekfGlV
Financial Times@FTWall Street banks push Big Law to cut fees because of AI https://ft.trib.al/zekfGlV
