AI-Powered Knowledge Management Unlocks $100M+ Savings for Top-3 Investment Bank
Challenge:
A top-3 global investment bank with $7 trillion in AUM faced growing inefficiencies in legal knowledge management across its global team of 2,000 attorneys. The legal team needed a way to securely search and extract relevant information from vast volumes of internal and external sources, spanning 6.5 billion documents across 120 countries. Manual processes were time-consuming, error-prone, and expensive, impeding the team’s ability to scale and respond rapidly to legal demands.
Approach:
Haystream designed a comprehensive knowledge management and automation strategy powered by AI, Natural Language Processing, and advanced search capabilities. We conducted a deep evaluation of 52 potential use cases and prioritized 4 that offered the highest business impact. These solutions focused on automating legal research, entity and clause extraction, regulatory intelligence, and document classification, while ensuring strict security and compliance protocols.
Outcomes:
The prioritized use cases are projected to deliver over $100 million in annual savings. Attorneys can now access and act on relevant legal information faster and more accurately, reducing time spent on repetitive tasks and enabling greater strategic focus. The solution also laid the groundwork for scalable legal automation across the global legal organization.