Artificial Intelligence in Law: How Major Firms are Using AI to Reshape Legal Services and Pricing Models
Australian Financial Review
ENRICHED
Details
- Date Published
- 9 July 2026
- Priority Score
- 1
- Australian
- Yes
- Created
- 9 July 2026, 06:01 am
Description
Law firms have stopped treating artificial intelligence as a threat, instead building highly profitable software products for clients.
Summary
This article examines the shift in the Australian legal sector from treating AI as a novelty to integrating it as a core driver of new revenue streams and software products. It highlights how major law firms are moving away from easily automated tasks to meet client demands for increased efficiency and reduced costs. While it documents the maturation of AI adoption in professional services, it focuses primarily on business model evolution and economic impacts rather than existential or catastrophic AI risks. The content provides insight into the localized Australian context of AI implementation and its immediate effects on professional labor markets.
Body
CompaniesProfessional ServicesLaw Partnership SurveyPrint articleJanek DrevikovskyLegal affairs reporterJul 9, 2026 – 1.31pmThis is the year that law firms stopped playing around with artificial intelligence and got serious, as the country’s major players began to back away from easily automated work and hunt for new AI-based revenue streams in the face of client demand for faster and cheaper service.With its built-in caution, the law has taken longer to reach this point than some comparable industries, such as accounting or consulting. But many law firm leaders agree the sector is finally unlocking AI’s potential – and feeling its impacts.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleRead MoreLaw Partnership SurveyLegal professionAIAshurst LLPFetching latest articles