Finding AI with ROI at CLOC
How to get an AI win for your team? show them the money!
Hey there everyone, I’m Zach Abramowitz and I’m legally disrupted! I’m in Charlotte today speaking at ILTA EVOLVE and I’m headed to Vegas next week for CLOC. Speaking of CLOC, today’s dose of disruption comes from LegalMation cofounder and COO Thomas Suh and it is a must read for folks headed to Vegas next week; it’s also relevant to a broader audience that wants to figure out how to get an AI win for their team. LegalMation was the first startup company I invested in (they were doing GenAI before it was cool) and they’ve made me look good ever since.
Legal operations professionals, especially those lucky enough to be going to Vegas for CLOC, have got to be feeling some serious pressure right now.
Picture this. Your company is sending you to Vegas for CLOC and, while they know you’re going to have some fun, they are also counting on you to come back to the office with more than just a poolside tan and a hangover. They’re expecting you to come back with an AI win. According to a 2023 McKinsey survey, 75% of respondents say their organizations are actively using AI for at least one business function, up from 50% the previous year1. Every department is under pressure from the C-suite to bring AI into their organization, and legal is no different. According to a Thomson Reuters, 74% of of GCs listed as AI as the most impactful trend for the profession, 42% saying it would be transformative, and 32% saying it would be high impact. And ironically because everyone, not just lawyers, have read the headlines about attorneys who got caught using ChatGPT to write their briefs, the entire C-suite is aware of the opportunities for legal teams to harness AI.
So, let’s be clear: AI isn’t a casual interest for your company, it’s one of their key strategic initiatives. They think they can get some quick wins in legal and their expectations are high. As an example, Moderna’s GC recently said that her team has been the first team in the organization to fully adopt AI.
Your challenge is that every company on the exhibit floor at the conference is going to be telling you that they are an AI company or that they’re using large language models in their product. It’s not that hard to take last year’s conference booth that read “We are CLM Provider,” replace the C with another L and, like magic, “We are an LLM Provider.”
To be fair, you may see some pretty cool looking AI that you can recommend to your legal team. But, you’re going to have a hard time showing a direct link between these AI tools and any kind of meaningful cost savings, at least at first. So, in just a few months when budgeting season starts, your company may begin to question whether or not sending you to Vegas was worth it. That’s an uncomfortable position to be in, especially when, over the last year, so many of your legal ops peers found themselves having to justify their positions as more than just a “nice to have.”
What makes LegalMation different is our commitment to AI with ROI. But, before I tell you about “AI with ROI,” first a little history.
LegalMation has a very special relationship with the legal ops community dating back to our company launch at CLOC in 2018. Our demo showed how Walmart was using LegalMation to automate their response to slip-and-fall lawsuits. We were transforming tasks like producing interrogatories and RFPs from labor intensive, manual tasks into a simple click of a button. LegalMation was generative AI before the term even existed.
Since then, we have helped transform high volume litigation at some of the biggest retailers, insurance companies and manufacturers. Instead of hiring expensive outside counsel to do this work manually, LegalMation customers are using AI end-to-end. Legal departments that use LegalMation are sometimes saving their companies tens of millions of dollars in legal spend. Over the past few years, we've broadened our services. However, we were still limited to working with a select group of companies facing specific types of high-volume claims. It meant that realistically, even though we loved connecting with legal ops leaders, we could only work with a handful of the companies attending CLOC.
All of that changes at #CGI2024, and the timing couldn’t be better for you because LegalMation could be the AI win your company has been looking for. This year at CLOC we’re introducing our demand letter response solution, and the first use case our customers are solving with this module is responding to EEOC demand letters.
Why is all this happening now you ask? A few reasons:
$15M Reasons: Earlier this year LegalMation secured a $15M Series A round from Aquiline Capital and we’ve been putting that money to work.
User Requests: Our users have been asking us for this feature for a while.
AI Advances: We’ve selectively applied some of the new language models into our product. We don’t just use the new models as marketing lipservice or for the sake of using GenAi.
This may look like a simple feature release, but what it really is means that now there is a whole new group of companies at CLOC who we can help. This release means that there’s a good chance your company can get a serious ROI from LegalMation.
Which brings me back to AI with ROI.
There are a lot of cool, new AI tools out there that improve the work experience for lawyers. And that’s great, but LegalMation is more than that. We’re AI with ROI. For every dollar you spend with LegalMation, your company can expect to save between $5-7 dollars. I’m not aware of any other legal AI tool that can show that kind of ROI.
So, bottom line, how much money can your company save using LegalMation?
At CLOC, come visit us at booth #518 and discover your AI ROI. If you’d like to schedule time with us, use this link https://calendly.com/thomas-suh/cloc30mt. We’ll have our ROI calculator on-hand to show you an estimate of how much money your company can expect to save if you work with LegalMation. Plus, we’ll give you a one-pager that you can take back to your department so you’ve got something tangible to show your direct reports. Thank us next year when your company sends you back to CLOC in business class.
McKinsey & Company, "The state of AI in 2023: A year of significant progress and impact"