How to Extract and Analyze Legal Documents with Gen AI

By Jake Nelson

Legal professionals continue to dive into the brave new world of generative artificial intelligence (Gen AI) to explore possible use cases for this exciting new technology. For those practicing lawyers who have embraced Gen AI and experimented with some of the early tools available, there are some commonly shared perceptions emerging.

Our International Legal Generative AI Survey — which queried lawyers across the U.S., U.K., Canada and France — found that lawyers see the highest potential for Gen AI tools to assist them in researching matters (65%), followed closely by drafting documents (56%) and document analysis (44%).

We’ve blogged in this space quite extensively about how Gen AI can enhance legal research and assist with drafting legal documents. In this post, we’re going to examine the power of Gen AI to help lawyers with extracting and analyzing legal documents.

Lawyers spend a significant portion of their time sifting through documents — e.g., contracts, case law, lawsuits, depositions — and this time-consuming study is often at the expense of higher-level strategic thinking. Legal AI tools, which are Gen AI tools trained for the legal profession, can be a tremendous aid to free lawyers from much of this tedium.

How Legal AI Can Help with Document Extraction and Analysis

Legal AI utilizes machine learning algorithms to not only understand legal language but also to generate conversational text that summarizes the essence of the analyzed document. Here are a few ways that Gen AI technology empowers lawyers to more efficiently extract and analyze legal documents:

1. Extract key information
   Legal AI tools are equipped with natural language processing, which enables them to scan documents and pinpoint crucial information (e.g., termination clauses, intellectual property rights, data privacy regulations, etc.). This saves lawyers time and minimizes the risk of missing vital details buried within a lengthy document.

2. Summarize lengthy documents
   Legal AI tools can be used to generate summaries of complex and often lengthy legal documents, allowing lawyers to better understand and dive into key documents pertaining to their legal matters.

3. Streamline review and drafting
   Extracting and analyzing legal documents is inevitably followed by some sort of work product, such as the drafting of a legal memo, letter, or argument. Provide a good Legal AI tool with key information extracted from your documents and it can help you generate a draft in a fraction of the time it would take manually.

4. Improve client communication
   The very nature of the practice of law — especially with the technical language of certain practice areas — can create a communication barrier between lawyers and their clients. Legal AI tools can be used to generate plain-language summaries of complex legal documents, allowing clients to better understand the legal issues at play in their cases.

Embracing Legal AI as a Legal Assistant

Of course, while Legal AI offers tremendous efficiency benefits to lawyers when it comes to extracting and analyzing legal documents, it’s crucial to remember that this innovative technology is a tool — not a replacement for human lawyers.

Gen AI technology is rapidly evolving and improving, but it can’t replicate the deep legal understanding and experience of a seasoned lawyer when it comes to case analysis. What it can do, however, is help lawyers with tasks that are most tedious and time-consuming so they are freed up to apply their expertise in developing legal strategies and providing high-quality client service.

By leveraging Legal AI for document extraction, analysis, review and drafting, lawyers can streamline their workflows, improve efficiency and ultimately deliver better outcomes for their clients.

Extract and Analyze Legal Documents with Lexis+ AI

The best Legal AI tools, such as Lexis+ AI, will extract, analyze and provide a summary of key insights from legal documents in moments. Lexis+ AI is our breakthrough Gen AI platform that we believe will transform legal work by providing a suite of legal research, drafting, and summarization tools that delivers on the potential of Gen AI technology.

Lexis+ AI pairs our unsurpassed legal content with breakthrough Gen AI technology in a way that could redefine the way that legal research is conducted and legal work product is created. Its answers are grounded in the world’s largest repository of accurate and exclusive legal content from LexisNexis with industry-leading data security and attention to privacy.

To learn more, view a video demonstration or request a free trial of Lexis+ AI, visit www.lexisnexis.com/ai.