09 Oct 2026
Law Firms Struggle to Raise Fees Amid Growing Costs, AI
09 Oct 2026
09 Oct 2026
This is a link enhanced version of the article originally published in the print edition of The Economic Times.
Article Overview:
The article examines the fee pressure facing law firms despite rising corporate legal spending, as increasing costs, competition, changing client expectations and the growing use of AI put pressure on traditional billing models. It also highlights how AI is beginning to affect the amount of lawyer time required for certain tasks, creating further challenges for conventional hourly billing models, while trusted legal judgment continues to remain important to clients.
Our Partner, Nishant Parikh, shared his perspective. Here’s what he had to say:
“What has not changed is the fundamental value clients seek from their advisers: trusted judgment. AI is now beginning to pressure the other side of the equation, or ‘how much lawyer time’ is needed, which is challenging an hourly billing model.”
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