Feb 22
The good news is companies are becoming increasingly familiar with predictive coding, but the more unsettling news is they are facing up to $20 million in annual e-discovery expenses. According to the third annual study of streamlining and reducing the cost of e-discovery on inside counsel at mostly Fortune 1000 companies, 81% of respondents are familiar with predictive coding to determine whether a document is appropriate to include in a case, states legal industry analyst Ari Kaplan, who conducted the study in tandem with e-discovery provider FTI Technology. Predictive coding is an algorithm that provides the ability to review documents combining artificial intelligence with a lawyer’s input.
“Now there is a movement to get more and more technologies [in-house] to make a determination at least at the most basic level, and 55% of respondents said they would consider using it,” he says. Kaplan surveyed 31 inside counsels late last year for the study, entitled, Advice from Counsel: An Inside Look at Streamlining E-Discovery Programs.
“This is a real shift in comfort level … more than half of these people, all of whom are in-house counsel with decision-making capabilities and involved personally in this process, say this has become so sensitive they’re willing to use even the newest technologies to see how it works. And as the technologies develop, you’ll see adoption of this in some form in terms of how they treat e-discovery.”
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“Now there is a movement to get more and more technologies [in-house] to make a determination at least at the most basic level, and 55% of respondents said they would consider using it,” he says. Kaplan surveyed 31 inside counsels late last year for the study, entitled, Advice from Counsel: An Inside Look at Streamlining E-Discovery Programs.
“This is a real shift in comfort level … more than half of these people, all of whom are in-house counsel with decision-making capabilities and involved personally in this process, say this has become so sensitive they’re willing to use even the newest technologies to see how it works. And as the technologies develop, you’ll see adoption of this in some form in terms of how they treat e-discovery.”
To Continue Reading: