Credit: somchai20162516/Adobe StockAs Profits Rise, Law Firms Likely to Make More AI Investments in 2025
So far, law firms have spent "very little" of their revenue on gen AI-related technology, consulting and staffing, but that’s expected to change, according to a recent report.
December 20, 2024 at 06:00 AM
7 minute read
Positive 2024 financials in Big Law will likely lead to more cash flow that should be available for law firm innovation, industry analysts say. In particular, law firm leaders are looking to 2025 to further leverage generative artificial intelligence to transform their business.
"Law firms will do pretty well this year, and then they'll have the capital to really spend robustly next year," said Carlos Pauling, an executive director and recruiter with Major, Lindsey & Africa. Innovation, Pauling said, "is at the top of all of their strategic priorities list."
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