Chief Innovation Officer Andrew Sprogis spoke with Law360 for an article about how generative AI tools are being priced as law firms find ways to work the expense into their legal tech budgets.
"The investment could be very large, potentially," Andy told Law360. "We want to make sure if we're going to do anything, it's for the right reasons."
The article covers the various ways vendors are pricing their products, which includes pricing by user, by queries or by flat monthly or annual rates.
Andy said Katten is exploring several generative AI tools on the market and evaluating price tags versus return on investment. In some use cases, generative AI may not necessarily result in an overall increase in the firm's tech budget.
"'They're Not Cheap': Law Firm CIOs On Generative AI Tools," Law360, October 17, 2023
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