Three Points co-founder Simon Leaf has been quoted in the Financial Times as part of this year’s Innovative Lawyers Europe series, discussing how AI is reshaping the traditional billable-hour model.

The article, “AI wrecking ball fractures billable-hour fee model”, written by the FT’s Suzi Ring, explores how in-house legal teams and major banks are putting pressure on law firms to pass on the cost savings generated by AI, and how a new wave of “AI-first” boutiques, including Three Points, are stepping into that gap.

Commenting in the piece, Simon said:

“The awkward truth for most traditional firms is that their whole business model is calibrated to antiquated working methods,” and “for years, the big firm model has quietly relied on clients paying for juniors to learn on the job, but that’s becoming a much harder sell.”

The feature also set out some of the pricing innovations now being used across the market, from fixed and capped fees through to collared arrangements, as clients increasingly ask their panel firms how much of their AI-driven efficiency savings will actually be passed on.

Read the full article on the FT website here 

Chambers & Partners recognition

This latest feature follows Three Points’ recent recognition by Chambers & Partners, which highlighted the firm as part of the next generation of AI-enabled law firms reshaping legal services.

Chambers & Partners’ analysis looked at the small number of firms using artificial intelligence not simply as an internal productivity tool, but as a way of fundamentally improving the client experience and delivering legal services differently, a philosophy that sits at the heart of Three Points.

Commenting on the recognition, Simon said:

“AI won’t replace experienced lawyers. But it will replace lawyers who continue working in the same way they’ve worked for the last twenty years. We founded Three Points because we believed clients deserved a different model, one where technology enhances legal expertise rather than simply making old processes marginally quicker.”  Taken together, these two features reflect a wider shift across the legal industry, and Three Points is proud to be recognised as part of the conversation shaping what comes next.