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Legal Ai

2 GoKawiil briefs on this topic

Clio survey: 90% of UK/Ireland legal professionals now use AI, straining billable-hour model

A new report from legal software firm Clio finds nearly 90% of legal professionals in the UK and Ireland now use AI tools, with almost 80% of adopting firms saying they can take on more work without hiring, and over 70% citing cost savings from automating administrative tasks. The report also finds about one in five heavy AI-adopting firms struggling to hit billable-hour targets, while global legal leaders expect hourly billing's share of work to drop from 72% to 44% within two to three years. Firms including A&O Shearman and Slaughter and May are already deploying AI agents from Harvey for tasks like loan-agreement review and regulatory research.

Harvey raises $550M at $15.5B valuation, tripling worth in nine months

Legal AI startup Harvey has closed a $550 million funding round valuing it at $15.5 billion, co-led by Diffusion and Lightspeed Venture Partners. The raise comes just months after an $11 billion valuation in March and an $8 billion mark last December, bringing Harvey's total funding past $1.55 billion. The deal follows the company's launch of its own in-house model, Harvey Tenet, built on an open-weight foundation with help from Fireworks.