Law firms are still trying to grasp the implications that artificial intelligence will have on their business. But a new report this week helps paint a picture: decreasing revenue per engagement and declining profit margins, leading to even more intense competition for work and talent.

Specifically, according to a Law.com Pro Fellows report published this week, as lawyers increase their productivity with the help of AI and generative AI technology, there will likely be less work for non-business-generating partners and less demand for entry-level and junior associates.