As with many things AI, a new study shows big changes on the horizon, with incremental movement in the current day-to-day.
A survey of law department professionals by Everlaw and the Association of Corporate Counsel titled “Generative AI’s Growing Strategic Value for Corporate Law Departments” reveals that most organizations (61%) are “somewhat” or “very” likely to push back on law firm pricing models.
But 59% report being unaware of whether their law firms are currently using GenAI for their matters, and 80% are not currently encouraging or requiring their firms to use the technology.
Law departments’ own use of the technology, meanwhile, has more than doubled in the past year, allowing in-house counsel to take on more work themselves.
“Momentum is building against the billable hour,” Everlaw’s Petra Pasternak writes in a summary of the report. “Firms that connect GenAI-enabled efficiency to fair, transparent pricing will differentiate themselves as modern, client-first partners.”
The data draws on responses from 657 in-house professionals in 30 countries.
In-House Teams Turn to GenAI for Efficiency, Raising New Expectations for Law Firms [Everlaw]
Generative AI’s Growing Strategic Value for Corporate Law Departments [Everlaw]
Jeremy Barker is the director of content marketing for Breaking Media. Feel free to email him with questions or comments and to connect on LinkedIn.