As a disruptive technology, large language models such as ChatGPT will have a significant impact on the provision of legal services. We assess the potential savings in terms of full-time equivalents and annual costs for both law firms as well as internal legal department/tax advisory services in Switzerland. The effects are substantial, and amount to 25% of full-time equivalents and 20% of annual costs respectively. The findings were published in the August 2023 issue of the journal of the Swiss Bar Association (“Anwaltsrevue/Revue de l’avocat”).
Four key takeaways
The utilisation of trained large language models results in significant efficiency gains for legal services.
A 25% reduction in required full-time equivalents can be reached.
In terms of annual cost a decrease of 20% becomes achievable.
The differences between law firms and legal department/tax advisory services are of minor importance.
Generative AI will transform how legal departments operate while increasing efficiency by 20% and more.
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Contact us
Christoph Schärer
Tax and Legal Innovation, Transformation & Disruption Leader, PwC Switzerland
Tel: +41 58 792 42 82
Fatih Sahin
Director, AI & Data Leader Tax & Legal Services, PwC Switzerland
Tel: +41 58 792 48 28
Senior Associate, AI & Data, Tax & Legal Services, PwC Switzerland
Tel: +41 58 792 18 48