What Will Artificial Intelligence (AI) and Generative AI Do To Hourly Billing In Law Firms?

What Will Artificial Intelligence Do To Hourly Billing In Law Firms?

Nancy MyrlandAI - Artificial Intelligence, All Posts, Alternative Fee Arrangements, Business Development/Sales, Client Service and Retention Leave a Comment

It’s time to discuss the impact of artificial intelligence on the traditional billing structure in the legal profession. With the rise of AI and Generative AI technology and its potential to streamline tasks and matters, lawyers must consider alternative billing models such as value-based billing. I will discuss what leads me to think now is the time, as well as …

General Counsel To Lawyers: “Do You Understand AFAs?”

Nancy MyrlandAll Posts, Alternative Fee Arrangements, Business Development/Sales Leave a Comment

Earlier this week, I recapped one component of the General Counsel Panel at this year’s LSSO RainDance conference I attended. It focused on a request these General Counsel had, which was for lawyers to “know our business.” Another theme that surfaced had to do with AFAs, or Alternative Fee Arrangements, often called Value Billing and a few other names depending …