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Cybersecurity and Legal Tech In 2022: Predictions from the Field: Part Two
[Editor's Note: Cybersecurity Law & Strategy has once again joined with its ALM sibling, Legaltech News, to offer expert opinions for what the New Year might bring in cybersecurity. Part One, last issue, included commentary on cybersecurity, remote work, privacy and e-discovery. Part Two has expert commentary on what 2022 might bring in legal ops, next generation tech and contract review.]
| |Next Gen Tech
Daniel Bonner, Director of Client Solutions, Level Legal: "Finally, Excel wins the day, and attorneys who feared the black box of AI get the last laugh. AI — and this means machine learning — is on its way to being formally regulated, and it is as likely we will get a universal standard for its use as we are for data privacy. A US federal standard would be great at this point, but instead we will see country-by-country regulations and complexities for AI use based on cultural norms, political powers, and according to the EU's proposal, "training, validation and testing data sets that are relevant, representative, free of errors and complete." The very definition makes the training set impossible to meet the requirement."
Jason Broughton, Chief Design Officer, LexisNexis: "The law firm office would be unrecognizable today by 2019 standards, but our tools have not kept up with the pace of change. It's true that legal staff have adapted to using video calling and other communication programs, but the usefulness has peaked and now many dread the thought of another video call. It's also true that pre-2020, paper documents scattered the landscape of most law firms, but now that seems a distant memory. In the next few years, we will see a host of new cloud-based tools to help connect not just communication but the intersection of work product and process. These new tools will enhance legal work in ways unimaginable in the pre-pandemic era. The move to the cloud and previous pace to adopt cloud-based document storage will be necessary to thrive in today's reality. While a scary thought to some, it's unthinkable to hold on to previous ways of working."
Rick McFarland, Chief Data Officer, LexisNexis: "2022 will be the year Smart Contracts make the leap from financial services to other industries (e.g., insurance, gaming, global trade). Cryptocurrency is not the only use case for blockchain. A smart contract run on blockchain is another way of providing automation — an agreement that can be executed by a computer program rather than humans. The benefit of these automated contracts and the distributed networks that support them is they can bring digital applications that require trusted decision-making to a global market that might not otherwise be possible or even reachable. This "leap" from finance is the tipping point for smart contracts that will cause exponential growth in the space."
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