AI could eat Big Law's billable hours. Cooley's boss says bring it on.
Rachel Proffitt came up in Big Law through the traditional model. Now she's responsible for figuring out what replaces it.
TL;DR
- AI is disrupting the traditional billable hour model of law firms.
- Cooley's CEO, Rachel Proffitt, is focused on innovating and adapting the firm to the rise of AI.
- The firm is developing new technologies, like self-service contract review tools, to enhance client interaction.
- Cooley is exploring alternative pricing structures beyond the billable hour.
- The firm's strategy includes making Cooley operate with the speed and agility of tech companies.
- AI may ultimately free up lawyers to focus more on human aspects of client relationships and complex decision-making.