Last year, generative AI landed on the scene with a bang, and few professionals were quite as shocked—or enthralled—as lawyers. But for the most part, law firms are ready for this new innovation, having embraced more traditional forms of AI, such as machine learning, for years, and becoming more automated and technologically mature in the process.

Generative AI, however, may leave a deeper mark. While firms’ leveraging of past AI technologies hasn’t significantly loosened the billable hour’s stranglehold on the market, many lawyers see generative AI finally doing what many of these past innovations could not. The 2023 Legaltech News Law Firm Tech Survey of 36 firms, for instance, found that almost 45% of respondents believe generative AI will lessen their reliance on the billable hour, while around 15% predicted it won’t, and approximately 35% didn’t know.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]