In-house AI spend to rise
A new survey has identified that two-thirds of legal professionals believe internal spending on artificial intelligence will increase in 2019, with such technology cited as among the top priorities to implement before next year.
According to OpenText’s third annual survey into legal operations professionals, 34 per cent of respondents who work within the legal department currently use AI, while 66 per cent of respondents feel that AI spending will increase in 2019.
The survey found AI, the cloud and security are viewed as the top priorities for legal departments, with the majority of respondents (83 per cent) rating their organisation’s current use of cloud-based tools at a three or above on a 1-5 scale. Further, 94 per cent rated their company’s openness to implementing cloud solutions in the coming year at three or higher, according to the findings.
In terms of security, 91 per cent of respondents believe their legal department’s influence on information security decisions has increased, with 49 per cent claiming the legal team is much more involved in information security. Ninety-one per cent also believe they have data security concerns around distributing electronically stored information to multiple discovery vendors and law firms.
“AI, cloud and security have emerged as top priorities for law firms and enterprise legal departments as we approach 2020,” said Todd Elliott, OpenText vice president for security, artificial intelligence and legal technology.
“As legal professionals ready themselves for the latest requirements of the new economy and the new way to work, cutting-edge software solutions in legal technology from OpenText can help them achieve their goals in AI, cloud and security.”