The electronic properties, phonon properties, and conventional superconducting properties of the newly synthesized AuCu3-type intermetallic compound LaBi3 using first-principle density functional methods have been reported in this research article. Variations in conventional superconducting properties like transition temperature, electron-phonon coupling constant, Eliashberg spectral function, and average logarithmic phonon frequency with applied hydrostatic pressure have been reported in this research article. At ambient pressure, the transition temperature and coupling constant was computed to be 7.2 K and 2.78 respectively. The calculated decrease in transition temperature with applied pressure as reported in this article agrees with the previously reported experimental results. Ambient pressure Fermi surface was employed to explain the high electron-phonon coupling constant.