“Wall Street banks are pushing large law firms to cut fees, arguing that the business model that has enriched top lawyers for decades is not sustainable in an era of AI.”
From Marginal Revolution
Even though this makes complete sense, it’s hard to see how this will play out. Big firms are really good at making money and, even more so, protecting that revenue stream.
Yes, AI should knock down the costs. But will it?
Big heads are hard to cut off.
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