The boom in artificial intelligence is changing the way law firms charge their clients for advice. Traditional time-based billing, Keypoint Law chief executive Warren Kalinko says, “is becoming obsolete”.
“As artificial intelligence accelerates key parts of the legal process, clients increasingly expect pricing that reflects value and outcomes rather than hours worked. Firms that fail to evolve will fall behind,” he says.
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Isabella Freeland is a journalist for The Australian Financial Review.