Will AI Herald the Death of the Billable Hour?
<p>For nearly 70 years, the billable hour has been the fiscal pillar of legal practice. It dictates how lawyers conduct their work, how they measure their progress, and when (or if) they clock off. A deep-rooted stalwart within the legal profession, it has long since provided the framework for how law firms structure their revenue models.</p>
<p>However, has the billable hour overstayed its welcome?</p>
<p>Nowadays, Lawyers have access to the data needed to set predictive, value-based fixed pricing. Further, with AI-enhanced law firms able to complete legal research in minutes instead of weeks, shouldn’t firms be naturally switching from time-based billing to result-based billing?</p>
<p><a href="https://medium.com/mccarthyfinch/will-ai-herald-the-death-of-the-billable-hour-8dca69d85b6e"><strong>Read More</strong></a></p>