William Josten from the Thomson Reuters Institute writes that the impact of AI and generative AI (GenAI) on the legal profession continues to evolve at pace, with numerous questions about how these technologies will affect service delivery and pricing. The Thomson Reuters Institute is actively studying these changes and believes that by 2025, lawyers will need to make decisions about AI’s role or risk having those changes imposed on them. He adds: “The time for a wait-and-see approach to how AI will change the legal market is rapidly expiring. Law firms and their clients have an opportunity to work together to shape what the future will look like.”