Conducting due diligence using huge amounts of information that are part of a merger, an acquisition, or other sophisticated corporate transaction is absolutely necessary.
AI based systems provide an opportunity to perform due diligence in a faster and more cost effective way.
Conducting legal research is a tedious, monotonous, and time-consuming task. AI systems will be able to help lawyers by performing legal research in a faster and more thorough manner than what lawyers may be able to do on their own.
Lawyers working in contract negotiation matters will be happy to have an AI system that could provide a fast and thorough contract comparison whenever there is a battle of the forms between contracting parties regarding which standard contract terms should be utilized.