The End Is Nigh—Or Is It? Experts Debate Law Firm Rate Hikes, AI's Impact and Adaptability

Law firm rates have been rising for years, with most firms planning further increases despite economic uncertainty and inflation. However, clients are growing resistant to these hikes, and the use of AI is expected to shift how legal services are delivered, potentially reducing demand for junior associate work. Experts like Toby Brown and Marcie Borgal Shunk highlight differing views on the sustainability of rate increases, with some seeing cracks in the current model as law firms balance profitability with adapting to evolving client needs and technological advances.