What Does Big Law Stand to Gain From Slow AI Adoption?
Observers in the legal tech industry speculate that firms' caution stems from a commitment to a profitability model dependent on high leverage and hourly billing.
May 23, 2024 at 09:00 AM
8 minute read
Artificial IntelligenceWhat You Need to Know
- Generative AI tools may force the most profitable law firms to rethink their business model as the efficiencies of legal tech undermine hourly billing.
- Big Law firms typically capture the bulk of their profit margin from an associate's efforts, which are increasingly handled by generative AI tools.
- Some firm leaders and tech vendors say generative AI will allow lawyers to deliver higher value to clients without the need to replace hourly billing.
As Big Law's relationship with generative artificial intelligence hits a yellow light at the intersection of caution and optimism, some in the legal tech community question how much of the caution is motivated by commitment to a profitability model dependent on high leverage and hourly billing.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllLaw Firm Library and Research Roles, Long Endangered, Are Making a Comeback
5 minute readFennemore Craig Combines With Tech Boutique to Jump-Start AI Initiative
McDermott Will & Emery Hires Its First Director of AI Innovation
Law Firms Mentioned
Trending Stories
Who Got The Work
Clark Hill members Vincent Roskovensky and Kevin B. Watson have entered appearances for Architectural Steel and Associated Products in a pending environmental lawsuit. The complaint, filed Aug. 27 in Pennsylvania Eastern District Court by Brodsky & Smith on behalf of Hung Trinh, accuses the defendant of discharging polluted stormwater from its steel facility without a permit in violation of the Clean Water Act. The case, assigned to U.S. District Judge Gerald J. Pappert, is 2:24-cv-04490, Trinh v. Architectural Steel And Associated Products, Inc.
Who Got The Work
Michael R. Yellin of Cole Schotz has entered an appearance for S2 d/b/a the Shoe Surgeon, Dominic Chambrone a/k/a Dominic Ciambrone and other defendants in a pending trademark infringement lawsuit. The case, filed July 15 in New York Southern District Court by DLA Piper on behalf of Nike, seeks to enjoin Ciambrone and the other defendants in their attempts to build an 'entire multifaceted' retail empire through their unauthorized use of Nike’s trademark rights. The case, assigned to U.S. District Judge Naomi Reice Buchwald, is 1:24-cv-05307, Nike Inc. v. S2, Inc. et al.
Who Got The Work
Sullivan & Cromwell partner Adam S. Paris has entered an appearance for Orthofix Medical in a pending securities class action arising from a proposed acquisition of SeaSpine by Orthofix. The suit, filed Sept. 6 in California Southern District Court, by Girard Sharp and the Hall Firm, contends that the offering materials and related oral communications contained untrue statements of material fact. According to the complaint, the defendants made a series of misrepresentations about Orthofix’s disclosure controls and internal controls over financial reporting and ethical compliance. The case, assigned to U.S. District Judge Linda Lopez, is 3:24-cv-01593, O'Hara v. Orthofix Medical Inc. et al.
Who Got The Work
Attorneys from Cadwalader, Wickersham & Taft and Pryor Cashman have entered appearances for Diageo Americas Supply d/b/a Ciroc Distilling Co. and Sony Songs, a division of Sony Music Publishing, respectively, in a pending lawsuit. The case was filed Sept. 10 in New York Southern District Court by the Bloom Firm and IP Legal Studio on behalf of Dawn Angelique Richard. The plaintiff, who performed as a member of producer Sean 'Diddy' Combs girl group Danity Kane and later his band, Diddy - Dirty Money, claims that she was financially exploited by Combs and subjected to inhumane working conditions. Among other violations, Richard claims that Combs required group members to remain at his residences and studios, deprived them of adequate food and sleep and forced them to rehearse for 36 to 48 hours without breaks. The case, assigned to U.S. District Judge Katherine Polk Failla, is 1:24-cv-06848, Richard v. Combs et al.
Who Got The Work
Mathilda McGee-Tubb and Kevin M. McGinty of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, as well as Jesse W. Belcher-Timme of Doherty, Wallace, Pillsbury & Murphy, have stepped in to defend Peter Pan Bus Lines in a pending consumer class action. The suit, filed Sept. 4 in Massachusetts District Court by Hackett Feinberg PC and KalielGold PLLC, accuses the defendant of charging undisclosed 'junk fees' on top of ticket prices during checkout. The case, assigned to U.S. District Judge Mark G. Mastroianni, is 3:24-cv-12277, Mulani et al v. Peter Pan Bus Lines, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250