How can law firms turn AI strategy into client value?

Today’s law firms have developed AI strategies, but now they need to turn them into business wins. On today’s podcast, TRI’s Zach Warren breaks down the data of why there remains a disconnect between what firm leadership puts forward and what partners are willing to tell clients, while Steve Petrie provides firsthand accounts of how AI transformation needs to be a holistic project rather than a normal tech implementation.

Why you should listen‍

1. A question of success between law firm leadership and partners — Among lawyers designated as stand-outs by clients, more than 80% agree that their firm has an AI strategy, but less than half have confidence that AI will lead to practice group success.
2. Methods of messaging — Although AI is technical in nature, Petrie’s team has found that AI success is truly dependent on using proper communication methods, finding training that works for a wide range of AI literacy, and developing metrics that allow for a clear definition of success.
3. Client conversion — Even lawyers considered to be embedded with AI aren’t talking about it with their clients  just 37% of embedded lawyers say they talk about AI with at least 60% of their clients. But in order to spur these conversations, Petrie and Warren say, it starts with partners recognizing their own value as aided by AI.