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Oct 23, 2024

GenAI surges in law firms: Will it spell the end of the billable hour?

Posted by in category: law

“There’s way more piloting that I’ve seen, especially in large law firms. So, there’s been a lot of expense, especially the allocating of staff and paying out of pocket for licensing fees,” Friedmann said.

“Part is keeping up with the Joneses, part of it is marketing, and part of it is just getting over the adoption challenges,” he continued. “In eDiscovery, before the advent of genAI, you needed some training to know how to interact with discovery database. There were a lot of tools, but they all had the same issue: You had to be pretty technically adept to tackle the database yourself.”

Law firms and corporate legal departments are adopting genAI for a myriad of purposes, ranging from document discovery and analysis to contract lifecycle management. GenAI can be used to categorize and summarize documents, draft new ones, and generate client communications.

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