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Privacy is now the most common function directly overseen by legal departments at 57%, overtaking compliance at 56%

Artificial Intelligence (AI) is getting more intelligent by the day. The use cases of AI in law extends from enriching Contract Lifecycle Management (CLM) to streamlining NDAs. 

It is practically impossible to review all the data manually, since investigations regularly involve more than ten terabytes of data – that’s the equivalent of 80 sea containers filled with paperwork.

Lemon Law claims are an unavoidable challenge for automakers. Despite stringent quality control measures, some vehicles inevitably develop defects that cannot be resolved through standard repair attempts. When that happens, manufacturers face not only potential buybacks and refunds but also litigation costs, regulatory scrutiny, and operational disruptions. 

The legal landscape is experiencing a revolution driven by artificial intelligence (AI). Three distinct branches of AI – Generative AI (GenAI), traditional AI, and Predictive AI – are poised to significantly enhance the efficiency and effectiveness of legal departments.

Compliance and regulatory agencies began enforcing guidelines on the use of AI tools in 2023. These rules and regulations were created and are being enforced, particularly with regard to handling sensitive legal data and personally identifying information (PI). 

The legal landscape is undergoing a digital transformation, with technology playing an increasingly pivotal role. At the heart of this change is regulatory technology, also known as RegTech. An article by NASDAQ notes that “lawyers need to stay current on regulatory developments”. Lawyers “spend even more time tracking regulatory changes,” which is why it is imperative that legal departments familiarize themselves with RegTech products, how they function, and which are relevant to provide legal counsel to their organizations.

The tidal wave of data continues to rise, and with it comes a growing mountain of legal and compliance considerations. Companies are grappling with an expanding web of regulations, from data privacy to cybersecurity, and legal departments are struggling to keep pace.

We’re in an exciting age for the legal industry. With easy access to powerful and extremely capable technology at our fingertips, we have digital tools that make it easier than ever to process reams of documentation, sift through terms and clauses, and store mountains of data. Today, information is stored electronically, and the expertise of an e-discovery lawyer has become more crucial than ever.

Sixty-six percent of legal department respondents are looking to cut back on outside counsel.