
What happened
Ropes & Gray developed a transactional diligence tool with OpenAI that inventories a data room, groups documents by themes, and drafts a report in the firm's own format.
Why it matters
Partners describe its output as comparable to a capable junior-to-mid-level associate, leaving lawyers to review and make the judgments clients actually pay for.
WHO IT HITSLaw firm associates and partners handling deal diligence stand to shift from contract review toward reviewing and refining AI first drafts; Ropes & Gray says lawyers still check everything before delivery.
Summaries like this, every morning.
Ropes & Gray frames the tool as a response to a specific bottleneck: transactional diligence is data-heavy, pulls in an entire team of lawyers, and can take days of intensive work when a bid is on a short timeline. The design mirrors the firm's own process—initial reviews, summaries, then higher-level review—rather than inventing a new one.
The testing method is notable. Rather than judging drafts in isolation, the firm compared them against human-authored reports from completed deals and adjusted the rubric and format where the drafts fell short. Lichtenstein's point that clients pay for judgments, not contract review, explains why the tool is built to let lawyers inspect groupings and interim summaries rather than skip them.
Two lessons the partners draw are to experiment broadly and to keep clients first. Glazer's stated next step points inward: using AI to create collective knowledge from client meetings and past projects across 340 partners and 1500 lawyers, which he describes as creating value directly rather than just saving time or money.
Pick your industry and the AI tools you use, and get news related to your work every day.
Free · 30 seconds with Google · unsubscribe anytimeWhat is AIToday? →
Ask AI anything about this article. The AI reads this article, earlier AIToday articles, and Wikipedia, and cites its sources. Q&As are published on this page for other readers too.
Amphenol reported adjusted earnings of 80 cents per share, up 74% year over year, and revenues of $10.23 billi…

Analog Devices, collaborating with Nvidia on AI data-center infrastructure, physical AI and edge robotics, ran…

Charles Schwab is expanding AI tools for registered investment advisors, integrating Claude for Financial Advi…

SAGE is providing the AI engine behind a new private crop insurance product; Aon structures and prices the cov…

ServiceNow shares sank 27% on Thursday, their worst day on record, after third-quarter revenue of $4.11 billio…

The page for this item did not load its article body, so no statements from Charles Schwab CEO Rick Wurster ar…
