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The legal industry is entering the AI era, and the traditional billing model may be overturned
In the legal industry, the traditional model of hourly billing is facing challenges. With the rapid development of generative artificial intelligence, many lawyers are optimistic about the impact of this new technology, believing that it can improve work efficiency and help them better perform tasks such as document writing and contract review. However, many lawyers are also worried that the popularity of AI may weaken their competitive advantage, especially for large law firms that rely on junior staff to handle a large number of complex cases. The future will be full of variables. A survey conducted by PwC shows that about one-third of British law firms believe that generative AI can…- 2.8k
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