Generative AI, Legal Ethics, and Pricing (Whitepaper)

Generative AI has been in the news non-stop. Specifically, generative AI has been in the legal news for not the best reasons. Whatever views people have about AI and the legal industry, it’s here to stay and law firms need to figure out how it affects their economics. Specifically, how will law firms calculate potential changes to billing while adhering to ABA Rule 1.5 (reasonableness for fees and expenses). Law firms that do not consider adopting legal spend data analytics tools as part of their AI strategy risk setting themselves up for ethical violations and subpar economic results.

Legal Decoder has put together a whitepaper discussing potential issues and solutions when pricing out legal that has been assisted by AI. Download the whitepaper here.