Hi and welcome to the July/August Orange Rag, which is essential reading for everyone trying to keep up with the latest legal tech news and trends.
First up on your reading list should be Derek Southall’s legal tech clinic, which focuses on the complex and urgent topic of how to manage the shift among AI vendors from a subscription to consumption-based token pricing model. It is key that law firms and other businesses can manage and predict their costs. What does meaningful oversight of consumption costs actually look like? Southall is founder and CEO of independent advisory consultancy Hyperscale Group and with this Clinic he shares some of the advice and guidance he is giving his clients.
This month we also have our regular, exclusive Orange Rag Insights article focusing on in-house legal tech developments. Tom Saunders looks at AI pricing conversations from both the in-house and law firm side of the coin, including conversations with Revolut’s chief legal officer Tom Hambrett and Ashurst Perkins Coie partner Jen McCormick. Are relationships more, not less, important than ever?
Pricing is a recurring theme right now and we reflect on the very recent news of BigHand’s acquisition of Ayora to advance its AI agenda, but there are six acquisitions this month to also take a look at.
One thing to keep an eye out for. The hype hasn’t disappeared, but increasingly the conversation is about delivery. And that may be the most encouraging sign of progress we’ve seen in years.
