"ClearyX began as a captive ALSP performing the sort of tasks that clients would prefer not pay law firm rates to perform. But this month, ClearyX stepped beyond the traditional ALSP role, launching its own AI software products branded as CX+ and marketing them directly to clients."
"ClearyX claims these tools delivered 40-60 percent time and cost savings based on more than 150 deals. Which is great for the clients, but not necessarily as great for the parent institution still billing by the hour."
"One of the questions that gets asked a lot, and more of the partners and the leadership of the firm is, 'isn't this cannibalizing some of the firm's business,' she said, before answering her own question. 'Yes, it is.'"
Cleary Gottlieb is adapting to changing times by launching AI tools through its subsidiary ClearyX, which aims to help clients perform legal tasks more efficiently. ClearyX has introduced products like CX+Insights and CX+Transact, which provide significant time and cost savings for clients. While this move may cannibalize the firm's traditional billing model, the firm believes that AI will disrupt billable hours in the legal industry. ClearyX's CEO acknowledges the unconventional relationship with the firm, emphasizing the inevitability of this shift in legal work.
Read at Above the Law
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