Right. That will reduce workload for the lawyers. But will their fees then go down? I'm kinda worried that if I don't give them the LLM produced legal docs for review they will just use the LLM themselves and then charge me for the work the LLM did :-)
It's bit like with doctors, you'll want a second opinion, if you can afford it.
TBD. Probably depends on whether what you're paying for is access to their lawyer-level LLM, which they would run it through, or for actual expertise.
Probably for important deals, detailed human review will be expected.
Maybe the real value-add will be the insertion of language that LLMs won't be able to figure out, but which will be favorable for the side that inserted them.