Wall Street banks are pushing large law firms to cut fees, arguing that the business model that has enriched top lawyers for decades is not sustainable in an era of AI.

Morgan Stanley and Citigroup have told major law firms they want to set up new payment arrangements that would save them money, the banks’ in-house lawyers told the FT.

Goldman Sachs had asked law firms how much the technology was saving them and expected to share in those benefits, according to two people with knowledge of the matter.

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Separation of church and what?