A lot of lawyers think AFAs will save them from AI disruption. They’re wrong.
I’ve been using alternative fee arrangements since the 90s, so I’m not anti-AFA. But the current rush to AFAs as a solution to AI’s impact on billable hours misses the point entirely.
The real issue isn’t how we package our fees. It’s that AI is fundamentally changing what legal work looks like and what it’s worth. You can’t just slap a flat fee on the same old work and call it innovation.
Here’s my post for Above the Law.