Gen AI has arrived for legal — So what does that mean for the bottom line?
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Generative artificial intelligence (GenAI) is set to make a splash in the legal industry, but its introduction not only raises practice of law questions — it’s set to have a major impact on billing and pricing practices. On this week’s episode of the Thomson Reuters Institute (TRI) Insights podcast, Bill Josten and Zach Warren, both of TRI, examine GenAI’s impact on legal billing, including why we’re not seeing the impact on time sheets quite yet (but will soon), whether GenAI will finally be what kills the billable hour, and if a $1 million legal problem now takes 15 minutes to solve, where does all that value go?
Gen AI has arrived for legal — So what does that mean for the bottom line?