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Legal Analytics and the Evolving Practice of Law
Way back in February — before COVID-19 and social distancing put a stop to in-person events and conferences — many of us gathered for Legalweek New York 2020 to catch up with colleagues and discuss matters important to our business.
One of the hot topics was legal analytics and the evolving practice of law. What's fascinating is that practices (remote lawyering, for example) that still seemed like revolutionary concepts just three months ago have suddenly been thrust into the spotlight and become required for both law firms and GCs.
For example, results from the 2020 Legal Analytics Study by ALM Intelligence and LexisNexis showed 70% of law departments and law firms had access to legal analytics, up from only 38% in 2017. Looking deeper into those results, I noted two main — and I should note, external — drivers that accelerated the adoption rate: competitive pressures and client expectations.
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