Artificial intelligence company Neota Logic and legal pricing consultants Burcher Jennings and Validatum have teamed up to launch Virtual Pricing Director, an AI-powered billing tool that assesses law firm’s potential legal work to provide a suggested client fee. The software is scheduled to be released in January or February 2019.

Virtual Pricing Director will include templates where users select the practice areas, tasks, rates and clauses for a matter. From there, the tool generates a matter’s budget based on the previous templates selected and provides a breakdown of expected spending. Lastly, it calculates a client price with an explanation of how the number was determined. 

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