The legal industry is undergoing a major shift as Large Language Models (LLMs) change the way contract review is done, setting new standards for speed and accuracy. This development, driven by advanced AI capabilities and performance metrics, is fundamentally reshaping how legal professionals approach document analysis and risk assessment. 

The benchmarking landscape for contract review has shifted from manual review to focusing more on speed, accuracy, and thoroughness. Modern LLMs handle everything from simple NDAs to complex commercial agreements, identifying risks and ensuring compliance with precision. This allows legal teams to move away from time-consuming manual reviews and adopt workflows where AI handles the heavy lifting, leaving lawyers to focus on critical decisions. 

The benefits of these tools are clear in real-world use. For example, a 100-page commercial contract that used to take days to review can now be processed in three steps: a quick initial scan, a detailed analysis of key sections, and a final review by a lawyer. This approach saves time while ensuring accuracy, with human oversight remaining a key part of the process. 

Looking ahead to 2025, LLMs are expected to handle even more complex tasks, like reviewing multi-jurisdictional contracts and industry-specific agreements. They can cross-check terms with internal guidelines and regulations, flagging issues and suggesting changes. This technology allows lawyers to focus on strategy and problem-solving instead of routine document work. 

As LLMs continue to improve, regular testing and benchmarking help ensure legal teams are using the best tools for their needs. For lawyers, AI-powered contract review isn’t just about saving time, it’s about combining technology and expertise to deliver better, more consistent results in contract management.