Many Md. law firms seek to invest in new technology, survey finds

Offit Kurman Banking and Finance Attorney, Joyce Kuhns, quoted in the Maryland Daily Record 

July 16, 2019 | Baltimore, Maryland As interest in artificial intelligence grows and as companies develop new time-saving products, more law firms are looking to automated technology to accomplish everyday tasks. According to a report from Tracxn Technologies, a company that uses artificial intelligence to track startup growth across industries, investments in legal tech companies jumped from $233 million in 2017 to $1.7 billion in 2018.

More than 50% of survey respondents said artificial intelligence and technologies that automate processes would be the biggest contributors to the rate of law firm change over the next five years.

“Artificial intelligence in general has allowed us to do more of what lawyers should be doing,” said Joyce Kuhns, a Baltimore-based principal at Offit Kurman, a large mid-Atlantic law firm.

Kuhns, who said new technology helps law firms cut costs and improve efficiency, added that artificial intelligence could replace some routine jobs such as contract downloading but that jobs requiring analysis will still depend on lawyers.

Murthy said that being able to connect quickly with customers to answer questions and to update case information is another reason law firms are turning to artificial intelligence and new technology.

“You absolutely want to show your clients that you’re bringing your A game,” Murthy said.

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ABOUT JOYCE KUHNS

Jkuhns@offitkurman.com | 410.209.6463

With extensive experience at the national and regional levels, Joyce Kuhns brings her in-depth knowledge in delivering creative solutions to help transform financial challenges to successful outcomes. Whether representing businesses as debtors or creditors, creditors’ committees or equity committees, or as an advisor to trustees or regulators, Joyce’s understanding of the complexities of financial and business structures and her experience with out-of-court resolutions as well as litigation at the trial through appellate levels enables her to provide critical strategic advice from the boardroom to the courtroom to a broad spectrum of clients at every stage of the business cycle including directors and officers of companies in crisis. A pragmatic problem-solver, Joyce uses her cross-disciplinary legal skills to meet the daily business needs of her clients and to help reshape their future.