The landscape of Alternative Fee Arrangements (AFAs) appears to be evolving as firms increasingly adopt generative AI. A recent survey has highlighted that the catalyst for this shift may be law firms themselves. Barnes & Thornburg’s Cassie Vertovec, one of the authors of the study, noted, “When we first saw AFAs hit the market, it was totally client-driven. With this new shift, it could be law firm-driven, because their profitability is at stake.”
As firms explore the integration of generative AI into their operations, the structure and management of AFAs are expected to undergo significant transformation. For more details on the implications and findings of this study, you can access the original article here.