Pricing models in the age of AI

The rise of generative AI and other new technologies not only changes the nature of legal practice but also client expectations and demands. Here, we flesh out the need for lawyers to evaluate their pricing structures as part of their service offerings so they may remain competitive. In this episode of The Lawyers Weekly Show, host Jerome Doraisamy speaks with Hive Legal executive director and experience designer Melissa Lyon and principal Adrienne Trumbull about their firm’s journey, being ahead of the curve on flexible working, why they price their services in non-traditional ways, whether billable units give clients more control, and why it is so important to reconsider how legal services are priced.

Lyon and Trumbull also flesh out the disconnect between clients’ understandings of legal practice versus how those services are being priced, navigating how courts are interpreting the use of AI and new technology, how critical a priority evaluation of pricing models will be in the new year, the questions that firm leaders must be asking of themselves, and why they should see this conversation as an opportunity to step back on reflect on the importance of legal practice and servicing the community.

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