A large majority (80%) of Fortune 1000 executives expect to see a reduction in billing from outside counsel due to efficiencies created by Gen AI...few law firms (11%)...are changing their billing practices...9% indicated their corporate clients expect bill reduction from Gen AI.
You have to look at the processes that you do now and find some way of implementing Gen AI into those processes...focus on administrative tasks...before billable hour processes...
...it's a mistake for law firms to tackle billable hour processes first. I think it's safer and you'll get better buy-in to test things by focusing on your administrative tasks...
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