OpenText™, the global leader in Enterprise Information Management (EIM), today announced findings from a new report indicating two thirds of legal professionals believe spending on artificial intelligence (AI) will increase in 2019.
Survey results, previewed at Legaltech 2019 in conjunction with Ari Kaplan Advisors, demonstrate the convergence of multiple disciplines and the expanding responsibilities of corporate legal operations professionals. Today’s corporate legal leaders are shaping IT strategy with an eye towards litigation-readiness and partnering with security teams on data breach response plans.
“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.”
The rise of the cloud and the emergence of AI represent progress, but technology adoption will be a long-term endeavor, and this study highlights the willingness to adopt new technologies. With discussions increasingly focused on innovation, efficiency and the next generation of legal practice, legal operations leaders are at the forefront of piloting new technology, executing strategic initiatives, and helping senior leadership navigate the evolving risk and compliance landscape.
Key findings from the survey include:
OpenText provides the legal market with a broad and diverse set of solutions for enterprise-grade eDiscovery, forensic data collection, legal documents management, AI-assisted search, contract analysis, and more. OpenText continues to invest in the legal sector and on January 31, 2019 announced the acquisition of Catalyst Repository Systems, Inc. (Catalyst), a leading provider of eDiscovery solutions for corporate legal departments and top law firms. Catalyst will be integrated into OpenText’s Discovery Solutions, helping customers further leverage their technology investments and benefit from OpenText’s continued investments in innovation.
Integrated products and services from OpenText support the business practices, information management, electronic discovery reference model (EDRM) needs, and proactive compliance requirements of the legal industry.
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