Am Law 200 Firm Finds Fresh Use For AI: Attorneys' Budgeting | The American Lawyer - The American Lawyer

What You Need to Know

• The firm's algorithms for lawyers allow them to apply past data to predict the cost of new matters.
• The AI tools are geared toward business litigators and M&A lawyers. Real estate attorneys could be next.
• The effort demonstrates Big Law's continuing appetite to incorporate AI into business.

Law firms have already found uses for artificial intelligence in litigation, deal-making and even hiring. Now, Am Law 200 firm Thompson Hine is finding a place for predictive analytics in its budgeting process.

The Ohio-based firm has already mandated that its lawyers put together budgets for every business litigation and M&A matter undertaken at the firm. It’s built proprietary software to help the process. And the latest advancement is coming from algorithms built for lawyers in business litigation and M&A that allow them to apply past data to predict the cost of new matters.

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source: https://www.law.com/americanlawyer/2022/01/25/am-law-200-firm-finds-fresh-use-for-ai-attorneys-budgeting/

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