Huge billing rate increases have helped law firms absorb hits to productivity and keep layoffs mostly underfoot so far this year. But they’ve also drawn strong reactions from clients, say in-house lawyers and consultants, with some describing the latest hikes as “mind-boggling.”

However, there’s fresh optimism that innovation, not only on pricing plans but because of AI-related spending and projects, can ultimately tame what one consultant called “the cost monster.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]