Is It Time To Officially Say Bye-Bye To The Billable Hour Thanks To AI?
Generative AI may be dipping into your hours....
Ed. note: Welcome to our daily feature, Quote of the Day.
In my mind, it’s not a question of whether generative AI will have an impact on law firm reliance on the billable hour, it’s a question of when and where.
— Jae Um, former director of pricing strategy at Baker McKenzie, and founder and executive director at Six Parsecs, in comments given to the American Lawyer on the role generative artificial intelligence will play on the billable hour within the legal profession. In a recent Legaltech News survey, 45% of respondents said they believed that generative AI would lessen their reliance on the billable hour, while around 15% predicted it wouldn’t, and about 35% didn’t know.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
