AI Might Question the Billable Hour System
By Matthew Romano
With AI creeping into almost every industry, countless business models will be rethought in the near future.
For lawyers, billable hours may be called into question because AI can potentially research and summarize facts in a way that companies find comparable to firm talent.
Of course, lawyers will still have jobs, but they will likely have to adapt.
Goldman Sachs reported a potential 44% reduction in legal jobs resulting from AI-related causes.
“However, the future of the legal industry and its workforce isn’t entirely bleak, nor does it signify the beginning of a dystopian sci-fi movie.”
For partners worried about any future constraints of AI, adapting to the new market is a meaningful solution. By learning what tasks AI can and cannot accomplish, you can understand how to work alongside it in the future.
Are you interested in learning more about adapting to pressures from AI? Read more in this law.com article.