Artificial Lawyer: “How do you calculate the ROI of legal tech tools that your firm or inhouse team have bought? Moreover, are there any universal metrics that can be used? Artificial Lawyer asked several founders across a range of companies what they thought. Here is what they said. First, let’s do a NLP-driven bulk review tool. In this case, Kira Systems. CEO Noah Waisberg quoted from the company’s own recent book ‘AI for Lawyers’. The focus on ROI here addresses one of the fundamentals of legal tech: efficiency. But Waisberg also considers several other benefits. ‘A common response is to think of [using Kira] purely in terms of efficiency – that with AI you can do the same amount of work in less time, with the ROI coming in the form of lower costs for the same amount of work,’ he noted in the book. And this approach makes the most sense when you have a fixed fee for that part of the work, e.g. the due diligence review. But, he continued: ‘Another way to think about ROI, however, is that AI allows users to do more work, not just to do the same amount of work more cheaply. …. [or you can also] think about the ROI of AI in contract review [in terms of] its impact on realisation rates.’…”