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The Kodak Moment: Why Legal Billables are the New Film

In 2012, Eastman Kodak filed for bankruptcy — undone not by the arrival of digital photography, but by its failure to understand what it truly was.

Its rival Fujifilm faced the same disruption and thrived, by recognising that its core lay not in film, but in the underlying chemistry and materials science that could be repurposed for entirely new markets. The legal profession now stands at an analogous inflection point — its own “Kodak moment”.

Artificial intelligence is already capable of reviewing thousands of contracts in minutes, conducting legal research at superhuman speed, and generating first-draft documents. For firms that define themselves by their methods — billable hours, armies of associates, voluminous memoranda — this is a structural threat. For firms that understand their core essence — strategic judgment, analytical rigour, and nuanced human counsel — it is a transformation opportunity.

Drawing on the Fujifilm model, the article outlines how forward-thinking law firms can respond: by repurposing legal expertise toward higher-order advisory work, making strategic investments in legal technology, embedding AI-driven teams within client organisations, and moving beyond the billable hour toward value-based and subscription-driven revenue models. The central thesis is clear — the distinction between Kodak and Fujifilm was not one of intellect, but of identity. Law firms that understand what they truly are will find in AI not a threat, but the most powerful tool they have ever had to amplify that essence.

Read the full article to explore the strategic roadmap for law firms navigating the age of AI.

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JPM Law Office
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