Can you quantify the value of AI to a legal blogger? Let’s have some fun looking at the question.
For lawyers just starting to blog – and maybe just starting to practice law – who use AI to stragically identify niche areas of the law to practice in and blog on, the upside in revenue is pretty strong.
There are many examples of blogging lawyers who focused on niches going uncovered who have done very well for themselves. Unfortunately they’re in the minority.
Now look at the time saved with using an AI powered blogging assistant. As AI publishing assistants are refined – – which will happen quickly – let’s say the time a lawyer takes in publishing a blog post is reduced by a third.
I’ve already reduced my time blogging by a third – and am blogging more often as a result of AI.
What is the value of a third of an hour to a lawyer based on the amount billed per hour? I understand many lawyers don’t charge by the hour.
In 2022, the median hourly rate across all states was $261 and the average was $269. DC is at $411 with New York at $372.
In large law, a report from last year, found the average rate billed by partners stood at $728 per hour, and for associates, it was $535.
Again, for the fun it, let’s take $300 as a lawyer’s hourly rate, writing two blog posts a month (24/yr) in one hour a post (may be light).
Saving a third the time with an AI-powered publishing assistant and that’s $2,400 per year.
There are a lot of senior lawyers in large firms writing blog posts. In their case an AI-powered assistant may save them $5,832. For associates, a savings of $4,280.
I understand we have neither studies nor surveys supporting these numbers.
But based on the estimates on AI being thrown around by credible authorities, my guess is we’ll see cost savings like this and more – and a significant increase in revenue realized by those lawyers and law firms using AI strategically to develop authority in niches.