Forbes: 70%+ of Law Firms Use AI, but Most Lack a Pricing Strategy to Match

A Forbes analysis published August 19 found that more than 70% of law firms now use AI tools, but most lack a clear strategy or policy for translating AI efficiency into pricing adjustments. The core structural problem: AI compresses task times dramatically — a task once requiring five hours may now require one — but firms on hourly models absorb that as write-down risk rather than margin. A separate survey cited in the piece found 71% of clients prefer fixed fees, yet most solo and small firms have not adjusted pricing models. Larger firms are creating hybrid structures — fixed-fee for commoditized tasks, hourly for complex matters — but without systematic client communication, these changes are incremental rather than transformative. The piece concludes that AI may ultimately signal the end of the billable hour, but the transition will be measured in years, not quarters.