Practice Management
Most consumers think they should keep interest from client accounts
A majority of clients believe that they should keep interest earned on client accounts, research for the Legal Services Consumer Panel has found.
General counsel see lower bills as main benefit of AI
General counsel see cost savings as the most important benefit from external law firms’ use of AI, according to research which advises firms to address the issue head-on.
Knights hails “return to organic growth” as turnover tops £200m
Listed law firm Knights yesterday reported a “return to organic growth” in its last financial year as part of a 28% bump in revenues to almost £208m.
Law firms saving on PII as “favourable” market continues
Law firms have been spending a smaller share of their revenues on professional indemnity insurance and those turning over £5-10m are saving the most.
National firm teams up with Microsoft to build own AI platform
National firm Shoosmiths has joined forces with Microsoft to create its own bespoke AI platform for carrying out contract reviews.
Working patterns “unsustainable for our health”, say women lawyers
Exactly half of female legal professionals believe their working patterns are not “sustainable for their health in the long term”, a large-scale study has found.
Clients less swayed by emotional support than law firms think
Clients are much less likely than law firm leaders to believe that feeling valued or cared for matters most or that a personalised service drives loyalty.
AI and private equity “reshaping partner pay”
The traditional metrics and models used to calculate partners’ pay are coming under mounting pressure from the rise of artificial intelligence and private equity.
Law firm cuts working week to protect people and profit
A Milton Keynes-headquartered law firm has introduced a 35-hour working week as part of a long-term plan to protect both people and profit.
Leading consumer claims law firm embraces employee ownership
Leading consumer law firm Bott & Co has become the latest to embrace employee ownership as its three founders look towards exiting.
Blog
Is your Google Ads budget funding your competitors’ AI visibility?
If your cost-per-click has crept up again this year, you’ve probably assumed the market simply got more expensive. That’s the wrong way to read what’s happening.
Containing the spread of unapproved AI
Nearly 60% of fee-earners admit to using unapproved tools (like free versions of ChatGPT). Yet 68% of firm leaders are confident there is zero risk of unapproved AI being used for client work.
When AI adoption goes wrong, costs add up fast
City AM recently reported that London is fighting to claim the title of ‘global capital of legal AI’. However, it’s crucial we remember that adoption alone does not create value.
Reports
Associates
