Law Firms Roll Out AI Tools for Deals
Major firms are introducing artificial intelligence systems to review agreements, draft IPO filings and produce due diligence reports.
Updated on Nov. 2, 2026 in Artificial Intelligence
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Sullivan & Cromwell, Cooley and Ropes & Gray have each introduced or are developing AI tools for legal work, including deal review, IPO drafting and diligence reporting. The tools follow OpenAI's announcement of a version of its latest AI model built for lawyers.
Why it matters
The rollout signals a shift in how elite legal work is performed, with AI taking on tasks traditionally handled by junior lawyers. Clients are now questioning whether these efficiency gains will translate into lower hourly legal bills.
Ropes & Gray is developing a tool that could generate an issue-level diligence report in hours rather than weeks. Details on accuracy benchmarks and deployment timelines have not been disclosed.
The players
Sullivan & Cromwell
A major international law firm that introduced the Agreement Analyzer tool to help review deals.
Cooley
A global law firm that introduced Go Public, an AI tool for drafting S-1 filings used in initial public offerings.
OpenAI
An artificial intelligence research company that announced a version of its latest AI model built for lawyers.
The details
Sullivan & Cromwell introduced Agreement Analyzer to help review deals, while Cooley introduced Go Public for drafting S-1 filings ahead of an initial public offering. Google and Anthropic have released AI tools for lawyers over the past year, and several firms have begun hiring chief AI officers. Kirkland & Ellis has also announced investments in building its own AI systems.
Timeline
Over the past year, Google and Anthropic released AI tools for lawyers while firms began hiring chief AI officers.
Recently, OpenAI announced a version of its latest AI model designed for lawyers, prompting the new firm-level rollouts.
The Tech Race
The launches come as Google and Anthropic have already released AI tools aimed at lawyers, placing law firms in a competitive race to adopt the technology. Firms are positioning AI as a core part of legal practice rather than a peripheral experiment.
Clients of large firms may eventually see changes in how legal work is billed as AI shortens drafting and review timelines. Individuals using legal services should watch for whether firms pass efficiency gains through to hourly rates.
The takeaway
Clients negotiating legal engagements should ask firms how AI tools affect staffing, timelines and billing structures. Understanding these terms can help them evaluate whether efficiency gains are being shared.
Further reading
For broader context on how these systems are being built and deployed, explore our Artificial Intelligence coverage.
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Do you expect AI to lower what you pay for legal services?
