Deloitte Survey: CLOs Foresee Value from Generative AI, Cite Increased Workloads

Deloitte's 'Chief Legal Officer Strategy Survey 2024' indicates that 93% of Chief Legal Officers (CLOs) believe Generative AI (GenAI) holds the potential to deliver value to their organizations within the next 12 months. The survey gathered insights from 460 legal executives across various global regions.

The study also revealed a significant increase in legal department workloads over the past year, with 82% of CLOs reporting an elevated workload. Consequently, 80% of these executives anticipate an increase in their legal department's budget for the upcoming fiscal year.

Despite widespread optimism regarding GenAI's potential, only 45% of CLOs feel the C-suite is aligned on the mission, vision, and strategy for GenAI initiatives. Concurrently, 85% of CLOs expect to see an increase in the use of technology tools within their departments over the next year.

Key areas of future focus were also identified, with cybersecurity anticipated to be the subject area experiencing the most significant increase in importance over the next 12 months.

The survey encompassed five geographical clusters, including major European economies, providing a comprehensive view of the global legal landscape and its evolving challenges.