Key insights
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1
Shift to Fixed Fees: Lawyers are moving towards fixed pricing models due to AI efficiencies.
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2
Democratization of Legal Services: AI allows smaller firms to compete with larger firms effectively.
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3
Client Demand for Transparency: Clients are increasingly seeking clear, outcome-based billing structures.
Takeaways
The integration of AI in legal services is reshaping billing practices, promoting fixed fees over hourly rates, and enhancing accessibility. This transformation is likely to continue, benefiting both clients and smaller legal firms.
Topics
Technology & Innovation Artificial Intelligence Work & Education Careers & Work