"Business is lost on price rather than gained. Although this may force prices down, it makes it difficult for solicitors to provide a proper full professional service at a profit. The incorporation of AI and blockchain may assist in reducing solicitors' fixed expenses in some areas of law."
Nicholas Woolf has been extensively quoted in the Bellwether Discussion Paper 2019: The Changing Face of Law, and in the Law Society Gazette, discussing the challenges posed and opportunities arising out of the SRA's price transparency rules.
It is vitally important, when faced with an increasing amount of complex and time consuming regulation, that solicitors are willing and able to adapt their business models to ensure that they make the most out of the law's changing landscape.