Survey Says: Analytics Making In-house a Home
In January, members of the World Economic Forum met at their annual Davos summit to discuss analytics, automation, and artificial intelligence (AI), topics with enough potential to have global business leaders expressing both optimism and fear:
"It's not like we actually have economic growth today. So we actually need technological breakthrough, we need AI ... Our responsibility is to have the AI augment the human ingenuity and augment the human opportunity." - Satya Nadella, Microsoft CEO
“I think now about how artificial intelligence will create digital refugees and how people will be displaced from jobs, tens of millions of people across the planet, because technology is moving forward so rapidly ... So companies, individuals have to decide: are we going to be committed to improving the state of the world? We’re at a crucial point right now.” - Marc Benioff, Salesforce CEO
These technologies are shaping our world quicker than experts expected, but the critical question remains: Will this trend significantly reshape the legal profession?
The short answer—as we’ve highlighted before—is yes.
For the second year in a row, the Coalition of Technology Resources for Lawyers (CTRL) and the Information Governance Initiative(IGI) teamed up to survey internal legal departments about their current and anticipated adoption of advanced analytics.
The findings? In line with last year’s study, and perhaps not surprisingly, analytics adoption is accelerating and practitioners are more bullish than ever.