AI, Rapping, and Legal Pricing: The Future of Law

This special episode of CLOC Talk comes straight from the main stage of our APAC Summit 2024 in Sydney. It features a closing panel discussion on how generative AI is influencing legal ecosystems. Moderated by Terri Mottershead, Executive Director at Centre for Legal Innovation, the participants engage in a lively debate over whether AI will fundamentally change pricing models for legal services. They are: Anna Golovsky, Executive Manager, Legal & Company Secretariat Operations at IAG Petra Stirling, Head of Operations & Transformation at Westpac Group Legal Genevieve Collins, Chief Executive Partner at Lander & Rogers, and Michelle Mahoney, Chief Innovation Officer at King & Wood Mallesons  The panelists adopt playful 'rap names' and present arguments both for and against AI significantly altering pricing structures.  They discuss challenges, the ongoing shift toward collaborative practices between law firms and in-house counsel, tech vendors, as well as evolving relationship dynamics.  Tune in as the panelists reflect and engage with the live audience on the role of digital literacy and AI in transforming legal ecosystems.