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Morgan Stanley’s Robot Libor Lawyers Saved 50,000 Hours of Work

  • Finance giants use AI to deal with Libor’s complex demise
  • Goldman says algorithms accelerated transition ‘drastically’
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Untangling trillions of dollars worth of loans and other financial contracts from Libor is a complex, expensive and time-consuming job.

So, finance giants are turning to artificial intelligence to simplify and speed up a task mandated by regulators -- and spare human lawyers some serious drudgery.