More and more clients are now relying on very sophisticated, often AI-powered analytics tools—from both startups and legacy providers—to better understand and benchmark their legal spend. Most of these tools provide real-time monitoring and better information for setting budgets, alternative fees and negotiating with outside counsel. Some go a step further and leverage anonymized data to provide detailed benchmarks. Clients who use these tools are often ahead of their firms in understanding what legal work can—and should—cost.
We’ll cover what tools are being used, what kind of data is being analyzed, and the benefits and risk factors associated with leveraging these sophisticated tools and frameworks effectively. The discussion will help firms best position themselves to meaningfully engage in conversations where clients are referencing this data, and give some visibility into the way legal operations executives are approaching the challenging task of rationalizing legal spend.
This session will be led by Brad Blickstein, who is an authority on legal ops and publisher of the new Legal AI Efficacy Report, which provides analysis on a number of these tools. He will be joined by legal ops professionals, who use these tools to better understand their legal spend.
• Understanding the AI behind these legal spend analytics tools
• Develop the use cases for AI-powered legal spend analytics tools, as presented by actual users
• Identify the pros and cons of sharing anonymized data for benchmarking
Brad Blickstein, Principal at Blickstein Group and Partner and Co-Head, NewLaw Practice Group at Baretz+Brunelle
Arun Mistry, Vice President, Legal Operations at Providence St. Joseph Health
Brad Rogers, Chief Operations Officer and Chief of Staff - Law, Gov't Relations, Reg Affairs, and Corp. Secretary, TIAA