Market Intelligence for Strategic Advantage

Blog Authors

Latest from Market Intelligence for Strategic Advantage

From Jim Baker via Lawfare: Artificial Intelligence – A Counterintelligence Perspective: Part I. “…AI and the entire technological ecosystem in which it functions are highly valuable to private-sector organizations and nation-states. That means that nations will try to identify, steal, and corrupt or otherwise counteract the AI and related assets of others, and will use AI against each other in pursuit of their own national interests. And that presents the United States and its allies with…
The EY/Riverview deal continues to reverberate throughout the legal industry, and it seems EY isn’t going to gently move things along. According to LegalFutures this morning: “Riverview Law is set for a huge global expansion over the next five years once EY completes its acquisition, the partner who is to head the new business has said. Chris Price, EY global head of alliances – tax, told Legal Futures that the plan was to increase staff numbers from…
A couple of days ago I reported on EY’s acquisition of Riverview Law. Since then it has been very widely reported (e.g., here) and the subject of many tweets, blog posts (e.g., here) and articles. Many see it as a portent of things to come, some agreeing with “Cornelius Grossmann, Ernst & Young’s global law leader, (who) said in a press release that the acquisition ‘underlines the position of EY as a leading disruptor…
LexisNexis’ Lex Machina “announced a major new expansion that provides analysis of insurance litigation.” Details from Artificial Lawyer here.   Also from Artificial Lawyer: “Canada-based legal AI pioneer, Kira Systems, has completed its SOC2 Type II reporting certification to help remove any fears customers may have over data security.”   This piece from The National Law Review reminds lawyers that it is their duty to keep up with technologies such as AI.…
From Information Age: Artificial intelligence in the legal industry: Adoption and strategy – Part 1, an insightful discussion with Geoffrey Vance, the chair of Perkins Coie’s E-Discovery Services and Strategy Practice, and Alvin Lindsay, partner at Hogan Lovells. The discussion of the future role of associates is especially interesting, and several useful links are included.   Investment money pouring into legal AI. “Legal tech blogger Bob (“God”) Ambrogi just posted that $200 million in…
Baker McKenzie steps toward next-generation contract analytics. “The global law firm has partnered with ContraxSuite by LexPredict, an open-source contract analytics and legal document platform.” “The custom software reduces time spent on legal document review, making sure human talent is focused more on high-value work, he said. ContraxSuite uses AI and human input to augment and integrate the user’s experience with the document they are working on.” More here.   From Cozen O’Connor: Ford’s new…
This is shaping up to be a slow week in legal AI, so this post will be almost entirely devoted to giving you a taste of what’s going on in the wider AI world. Here are Five of the scariest predictions about artificial intelligence.   And in a kinda similar vein, here’s Debunking 8 Myths About AI in the Workplace.   AI is moving into HR in several ways. A few are discussed here: …
Kennedys to prototype six innovations from its Ideas Lab. “Staff at law firm Kennedys could become CEOs of their own legal start-ups after it shortlisted six of the more than 100 proposals generated through its Ideas Lab. The six shortlisted proposals will now be turned into prototypes with the help of the firm’s offshore development team. The six successful ideas focus on clients’ pinch points, such as helping them to make quicker and better decisions…
Check out this discussion on LinkedIn of Ron Friedmann’s post, Can Law Firms Gain a Sustainable Advantage with AI? Several luminaries weigh in. (I maintain that AI has reached, or will soon reach, the point of being a class of universally available resources, akin to utilities. At that point, AI will not inherently deliver a competitive advantage any more than will electricity. The competitive advantage will come from what you do with it.)   This
From Above the Law, Patrick Fuller’s thoughts on law firms’ obstacles to adoption of AI-based technologies. “The biggest obstacles for getting firms to adopt AI tend to be combinations of different factors — most notable are attorney compensation structure, the matter’s fee arrangement, and the practice area as well.” More of Patrick’s thoughts and findings of the recent ALM survey here. And since it’s Friday, here’s what I assume is his high school yearbook headshot.…