How AI Can Solve the Productivity Crisis

12 July 2023 | Jaeger Glucina

New research by Slack revealed that 30% of workers think their day is being lost to unproductive work. At the same time, 48% of CEOs named productivity as their top priority for the next three years. But with the dual pressures of shrinking budgets and hiring freezes, maintaining productivity is proving more difficult than ever. Enter AI. That same research found that 59% of respondents believe AI could help them achieve more with less time and resource.

So, how can AI help to maximise employee productivity? Despite the ubiquity of tech in the workplace, many employees still find themselves bogged down in routine work. If we take the legal profession as an example, in-house lawyers are spending vast proportions of their day on routine tasks such as contract drafting, contract management and workflow allocation. However, the reality is that much of this work is standardised: workflows around an organisation often follow the same patterns and standard contracts can typically be generated from precedent clauses. But with AI automating these low-level tasks, the workforce can be freed up to spend their time on work that can never be replaced, such as creative thinking, strategic planning, and people management.

So, how does this work in practice? A great example is a customer of ours, Hitachi Vantara. Before AI, they were spending large portions of their day drafting and negotiating highly standardised contracts like NDAs and Sales Agreements. With Luminance, their legal team can now review an NDA from start to finish in just five minutes. As a result, the team can focus on executing wider business goals and performing value-generating work.

Similarly, the in-house legal team at UK-based tech firm, proSapient, adopted Luminance last year to improve internal efficiency. As a fast-growing company with a lean legal team, proSapient needed to reduce the time being spent on repetitive, manual processes and allow their GC to focus on closing business and securing funding. With AI, the company have regained 20% of the legal team’s time per day, with 40% time-savings on admin tasks alone per week. With all of this time back, proSapient has been able to redeploy its paralegal to higher value tasks, a game-changer for the business.

Want to see how AI could boost productivity in your business? Request a live demo today.