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ABA Journal: Legal Rebels
Will generative AI (finally) spell the end of the billable hour?
May 22, 2024
This podcast explores the enduring presence of the billable hour in the legal industry despite disruptive forces. It discusses the evolution of billing practices, alternative fee models, and the influence of generative AI on shaping billing methods. The impact of AI on immigration law and legal work is examined, along with the emotional and mental impact of transitioning away from the billable hour for lawyers.
26:22
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Quick takeaways
- The billable hour remains resilient due to familiarity and ease of measurement, despite challenges posed by generative AI tools.
- Clients are increasingly demanding alternative fee arrangements that better reflect the value provided by lawyers, leading to the emergence of hybrid billing strategies and subscription models.
Deep dives
The Evolution of Billing in the Legal Profession
Legal billing has evolved from flat fee schedules to the widespread use of the billable hour in the legal profession. With the rise of generative artificial intelligence tools that can perform tasks quickly, the future of the billable hour is in question. The billable hour has remained resilient due to familiarity and ease of measurement, but challenges arise in accurately valuing legal services beyond simply tracking hours.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode