Artificial intelligence is transforming the legal services market, with implications for how professional fees are determined. This is the focus of an in-depth article by Massimiliano Carbonaro published in Il Sole 24 Ore, featuring a contribution from our Managing Partner Francesco Dagnino.
The ability to complete tasks in a few minutes that previously required hours raises questions about the relationship between time spent and the value of legal advice.
Drawing on LEXIA’s experience, Francesco Dagnino emphasised that the value of professional services cannot be measured solely by the hours devoted to them:
“We moved away from hourly billing several years ago, except in specific cases. The advent of AI is making this fee model increasingly obsolete.”
Technological developments therefore call for a reassessment of how legal advice is remunerated, placing greater emphasis on expertise, the complexity of the issues addressed and the value of the advice to the client.
Read the full article (available to subscribers) in Il Sole 24 Ore >
