Search Results

May 19, 2021 Like most industries, the legal industry has taken the route to transformation, to answer the demands of the pandemic and its global economic impact. After a year of major disruptions, it is time for organizations to think about how these have affected them and get back on track. The understanding that the changes made during the past year need to be strategically incorporated into everyday operations is certain to redirect the trends in 2021 and beyond. Among the many changes 2020 brought us, the most significant is the acceleration in using technology, which has become a savior across all industries during a time where everyone needed to be physically distanced from each other businesses had to stay afloat by utilizing Artificial Intelligence, cloud technology, and data analytics. There are sure to be uncertainties ahead that will not slow down. As a result, it is safe to say that legal technology will have a major part in the new normal of the post-pandemic world. To guide legal industry leaders in what’s ahead, Gartner has published its Top 2021 Legal Tech Predictions. 1. Significant Increase in Legal Tech Spend For the past years, legal tech adoption has been slow, but the pandemic fast-tracked the digital transformations of law firms and legal departments. Legal tech solutions have made it possible for them to adapt to the drastic changes and operate effectively. However, this has not been easy for businesses that do not have the right structure to accommodate their employees to do remote work. Covid-19 made us realize the significance of digitalization. Responding to the unprecedented challenges of 2020, corporate legal departments have to cut costs while resolving problems of efficiency. A huge burden the pandemic brought to in-house legal counsel is a larger workload. This has put pressure on them to improve processes and workflows, legal technology implementation, and digitalization plans. It is anticipated that by 2025, legal departments will increase their spend on technology threefold and that by 2024, legal departments will have automated 50% of legal work related to major corporate transactions. Starting a tactical plan for selecting the best legal technology and identifying which solutions will not only benefit the department or the firm but will also create better results for clients, should be top of the list of in-house legal leaders. But this is no small feat to achieve and many companies have wasted money on the wrong technology. The best way to stay one step ahead is partnering up with tech companies and experts to ensure a successful implementation and adoption. 2. The Evolution of Legal Departments The corporate legal department is a complex part of a business that handles legal matters and ensures that the actions of everyone in the company are in compliance. Through adopting rules and regulations, they have to work closely with different departments. In their organization. Through the coming years, their role will continuously evolve. According to Gartner, three years from now legal departments will replace 20% of their generalist lawyers with non-lawyer staff. The best example of this shift is the expanding functions of legal operations, which have grown across all industries from 34% in 2018 to 58% in 2020. This means that due to new challenges, legal departments need to prioritize and make crucial strategic decisions to survive the competition. In addition to providing critical technology advice, InfiniGlobe helps optimize legal department processes. We specialize in creating solutions to make the technology smart. Our team of tech experts creates custom systems and views that use Artificial Intelligence for embedding and centralizing attorneys’ knowledge. 3. The Emergence of Nonspecialist Technology Over the years, legal tech companies have helped corporate legal departments with document management and matter management, to name a few. It is hard to imagine now how legal professionals can work on a daily basis without these platforms. However, the demand for non-legal-specialist technology is rising and it is expected that by 2025, at least 25% of spending on corporate legal applications will go to non-specialist technology providers. The market will be more competitive as more innovative startups exploit artificial intelligence (AI), ML, advanced analytics, process automation, and other emerging technologies. InfiniGlobe is a trusted provider of technology and professional services for the corporate legal departments. As a full-service consulting and software company, it specializes in systems integration and the optimization of the performance of legal department technologies. For more information, reach out to us at info@InfiniGlobe.com or at (833) LGL-TECH.

May 5, 2021 The legal industry has been evolving, subject to disruption in recent years, weighed by the changes in technology. The COVID-19 pandemic was a massive disruption as well, and the changing legal landscape can be overwhelming to traverse. As a veteran of legal tech, Mori Kabiri, InfiniGlobe CEO, provided some insights as to what he sees in the future for the legal industry, particularly regarding legal technology. Even with the rapid technological changes, client expectations are unchanging. Clients expect their legal vendors to be skilled and technology equipped, but at the same time, the legal industry is slacking when it comes to maximizing the benefits of tech tools. Mori believes that the unfortunate circumstances the pandemic forced us into adapting to were the last piece for the whole industry to fully embrace technology. Here is an excerpt from the article: “Legal is no exception to change anymore, especially with the new generation of millennial lawyers entering the workforce.” Once we're set in our ways, it is easy to give in and relax in our comfort zone. However, companies that stagnate fail, and everyone now has the unique opportunity to restart and plan ahead with fresh eyes and great hindsight. With global digital acceleration, it is hard to ignore that it will not affect the legal industry as well. As corporate law departments and law firms adapt to the trends of the past year, these changes will certainly continue to shape the future. Our consultants have decades of legal technology assessments for many law departments of fortune 500 corporations, reach out to us at info@infiniglobe.com or at (833) LGL-TECH.

January 19, 2021 Earlier this month, NewVantage Partners released the 9th edition of their annual Big Data and AI Executive Survey, a comprehensive analysis of c-executives feedback on the impact of data collection and processing at market-driving corporations. Specifically, the 2021 report is titled The Journey to Becoming Data-Driven: A Progress Report in the State of Corporate Data Initiatives. With 85 Fortune listed companies and blue-chip firms participating, the report boasts a wealth of executive feedback, which we’ve broken down for you here. Interest has increased and investment is up: 77.8% of the respondents confirmed that their companies had AI capabilities (up 12% from last year) and 96% of the participants affirmed that innovations in artificial intelligence (AI) and data science (DS) have had a positive impact on them. Only 4.1% of these Big Data execs reported no applications of AI in use. Implementation still comes with its challenges: As enthusiastic as executives are for the possibilities AI and DS boast, they’re also realistic about the difficulties of implementing a new data-driven approach. Beyond the technical difficulties and administration required to keep up with continuously developing privacy legislation, 92.2% of the surveyed executives identified the complexities of the corporate cultural environment – people, process, organization, change management – as the biggest impediment to fully adopting a strong data culture. There are a lot of moving parts with more being added daily, and a lot of work to be done to make adoption more viable. Nonetheless, optimism is bountiful: Surprisingly, despite the struggles everyone faced in 2020, survey respondents expressed that more than ever, they saw the advantages of a more data-driven operation and grew even more eager to pursue it. 81.0% expressed optimism about growing AI/DS adoption in their organizations, 91.9% affirmed that investing in AI/DS was increasing popularity, and 45.4% considered their own organizations as industry-leaders in AI/DS progress. With the proper optimism, commitment, and investment, the applications for data-driven technologies will blossom across all industries and services. Similarly, there are great opportunities for streamlining, automation, and monitoring tools for the legal industry that would finally allow lawyers and legal professionals to focus on high-value work. Consider tools like Counself invoice analysis and anomaly detection technologies, which were developed using specially designed proprietary algorithms. AI/DS application is a game-changer for every industry, and Legal is no exception. Corporate legal departments and law firms may have been slower in adopting data analytics and AI technology to their workflows in the past, but they’re now seeing that the firms and legal departments who took advantage of process automation and other AI/DS tools were able to adapt to COVID-19 and stay secure and profitable as their operations and process transformed. Soon, we may see that this approach will be the norm within the industry with more and more firms are taking advantage of data in their decision making. Don’t get left behind. Know what your data is telling you, request a demo here.

We are thrilled to announce that we are a proud sponsor of this year's Mitratech Interact, happening from Oct 2-5 in The Historic Roosevelt Hotel, New Orleans, Louisiana. This event is an excellent opportunity for legal professionals to come together, share ideas, and learn from the best in the industry. Meet with us and make sure you don’t miss our session: What: TeamConnect Tuesday (On A Wednesday): Success Stories of Innovative Legal Teams When: 1:30 PM - 2:15 PM CST During this engaging session, you'll get an exclusive chance to see how some of the top corporate legal teams are maximizing the potential of TeamConnect. Topics covered will range from invoice approval, budget and accrual requests, AFA and shadow invoicing, to calendaring, contact deduplication, auditing security, and beyond. The cherry on top? We have some guest speakers lined up from: Shell Oil NetApp Kaiser Permanente Security First Insurance These leading corporate teams will share their experiences, triumphs, and tips on how TeamConnect has been a game-changer for them. For those who haven’t secured their tickets yet, now's the time! Register here. If you can't make it to the session, don't worry. Simply drop us an email at info@infiniglobe.com and we'll give you access to all the insights we're sharing.

August 2, 2023 News: White House and Industry Take Steps to Regulate AI Development On July 21, 2023, the White House took a significant step towards regulating artificial intelligence (AI), with the announcement of voluntary commitments from seven leading AI companies. These companies, including Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI, have pledged to manage the risks associated with AI development and use, adhering to three core principles - safety, security, and trust. To ensure safety, the companies will conduct both internal and external testing of their AI systems, seeking the input of independent experts. They also commit to sharing information with governments, civil society, and academia to collectively address AI risks. In terms of security, the companies will invest in cybersecurity measures and allow third-party discovery and reporting of vulnerabilities in their AI systems. Building trust is another essential aspect of these commitments, they will notify users of AI-generated content, disclose their AI systems' capabilities and limitations to the public, prioritize research on potential societal risks associated with AI, and deploy advanced AI systems to tackle societal challenges. The White House is developing an executive order (EO) and bipartisan legislation to further regulate AI development and usage, aiming to position the United States as a leading force in AI innovation while ensuring responsible and ethical AI practices. Event Spotlight: ILTACON 2023 ILTACON 2023 once again brings together the brightest minds in the legal industry. 4.5 days of insights, networking opportunities, and collaborative discussions aimed at shaping the future of the legal world. Attendees will have the privilege of hearing from keynote speakers such as Sara Ross, Dr. Rob Archer, and Ken Salaz. The event will be on August 20-24 WDW at Swan & Dolphin Hotels and Disney's Yacht & Beach Club Resorts in the vibrant city of Orlando, FL. You can register here. InfiniGlobe is a full-service consulting and software company. Our team of experts has years of industry experience working with top corporate legal departments and law firms. Contact us at info@infiniglobe.com or at (833) LGL-TECH.

July 16, 2023 Artificial Intelligence (AI) has long been used to transform the workplace and improve traditional processes. And the legal industry has been constantly adapting to this change, as staying ahead of the curve is crucial for success. Especially with the use of generative AI and Large Language Models (LLM) including the latest breakthrough, ChatGPT in particular, holds a huge potential to redefine the legal landscape. Organizations are now starting to employ technology in their operations. In a report, 78% of the professionals surveyed expressed the belief that generative AI tools like ChatGPT can improve the quality or effectiveness of legal and accounting work. Specifically, when it comes to legal work, the proportion of respondents who believe its potential is slightly higher at 82%. While among those who have adopted or are planning to adopt Gen AI, about 67% of corporate legal identified it as the most compelling use. How does Generative AI transform legal departments? Embracing generative AI tools created for corporate legal departments can significantly boost efficiency and productivity. Corporate legal departments not only deal with high-level tasks but also repetitive and time-consuming tasks like contract management, regulatory compliance, and legal research which AI tools can now handle. Imagine having an intelligent system that can help professionals import and analyze large volumes of legal data, extract key information, and create comprehensive reports within seconds. Areas Where Your Team Can Utilize Generative AI Drafting Legal Documents – Lawyers often spend significant time drafting documents like contracts, leases, and agreements. This process can be both time-consuming and monotonous. Generative AI could automate this process by examining past versions of similar documents and creating new versions that comply with legal standards and integrate new provisions. Contract Review – Contract review is a labor-intensive task and demands extreme focus, which can take so much time. Generative AI can be instrumental in reviewing and analyzing contracts. It can detect issues such as outdated regulations requiring compliance upgrades. An AI tool is especially handy for examining complex contracts filled with multiple clauses and provisions, as it can spot discrepancies between clauses and ensure the contract aligns with the organization’s needs. Data Extraction – By extracting important information from binding contracts and summarizing documents, it can be helpful for lawyers in representing their clients. By examining past diligence reports, AI can spot patterns and improve its capability to identify potential risks and liabilities. AI-assisted diligence reports can save legal professionals significant time and effort and improve the accuracy and effectiveness of due diligence. Legal Intake – It can benefit legal departments by automating data collection, streamlining workflows, improving the client experience, facilitating triage and routing, identifying legal issues, and providing data analytics and insights. Litigation – An AI application can expedite early case assessment by analyzing case data, allowing the legal department to achieve early case settlements. This not only saves time and money but also minimizes business disruptions associated with prolonged litigation. Legal Research – A software that can quickly analyze and extract relevant information from legal databases, case law, statutes, and legal documents, helping legal professionals locate precedents, relevant statutes, and authoritative sources more efficiently. Also assist in generating summaries, briefs, and legal arguments based on the input provided. Here at InfiniGlobe, we constantly leverage technology to empower law departments to solve their unique challenges. As generative AI solutions emerge, we are dedicated to constantly researching safe and effective methods to adopt this technology in our products and services. Our consultants have decades of legal technology assessments for many law departments of Fortune 500 corporations, reach out to us at info@infiniglobe.com or at (833) LGL-TECH.

July 5, 2023 Regulation: EU Parliament Advances Landmark AI Legislation Last month, the European Union (EU) achieved a crucial milestone by advancing legislation that would establish one of the world's first laws for governing artificial intelligence (AI). The EU Parliament has voted in favor of initiating amendments to the draft legislation concerning AI, including regulations for generative AI systems like ChatGPT. The EU Parliament's statement highlights several key amendments aimed at refining and expanding the scope of prohibited AI practices. Notably, the definition of AI has been revised to provide greater clarity and specificity. According to the new definition, AI is defined as "a machine-based system designed to operate with varying levels of autonomy, capable of generating outputs such as predictions, recommendations, or decisions that have an impact on physical or virtual environments, whether explicit or implicit in their objectives." Moreover, the Parliament's draft legislation broadens the classification of "high-risk" AI systems. To qualify as "high-risk" under the AI Act, an AI system must not only fall into one of the listed categories but must also pose a significant threat to people's health, safety, or fundamental rights. This expansion ensures that AI technologies with potential adverse consequences receive appropriate scrutiny and oversight. While this significant development marks a substantial move towards AI regulation in the EU, it is important to note that the implementation of these rules may take several years. The next crucial step involves three-way negotiations between member countries, the Parliament, and the European Commission. Report: The Significance of Third-Party Security Risk Management Today businesses are interconnected with each other which makes them recognize the importance of managing third-party security risks. This stems from the realization that an organization's security posture is only as strong as its weakest link. While organizations can implement robust security measures within their systems, their exposure to potential vulnerabilities increases when engaging with external parties, such as vendors, suppliers, partners, or service providers. One breach within any of these third-party relationships can have damaging consequences. A new report provides insights and trends from organizations that strengthen this. Below are the highlights: An overwhelming 84% of organizations demonstrate a prioritization of third-party security risk management, indicating a recognition of the potential threats posed by these external relationships. Only 13% of organizations engage in continuous monitoring of their third-party security risks, exposing a significant disparity in prevailing risk management practices. 44% of organizations require a time frame of three weeks or longer to onboard a new third party, which gives light to the complexity of managing these external relationships, particularly when companies are dealing with hundreds or even thousands of third parties. More than half, specifically 52% of organizations, express frustration with manual data collection and vendor communication, highlighting the pressing need for streamlined, automated processes. 43% of organizations do not have enough understanding of the security risks associated with fourth-party vendors. InfiniGlobe is a full-service consulting and software company. We have 20+ years of industry experience working with top corporate legal departments and law firms. Contact us at info@infiniglobe.com or at (833) LGL-TECH.

June 11, 2023 The legal industry deals with a huge amount of sensitive and valuable data which makes them susceptible to cybercriminals. In the past few years, this has become more evident with the outbreaks of cyberattacks through the increased cases of ransomware and malware. A great responsibility now lies to corporate legal officers to protect their organizations. What are the takeaways from downloading this whitepaper? Learn to effectively manage third-party risks Know the step by step by step process to protect your sensitive data. A case study about how Counself can increase efficiency and collaboration. For more information, reach out to us at info@Counself.com or (833) LGL-TECH.

June 1, 2023 US Transportation Department Breach Impacting 237,000 Employees An initial investigation conducted by the US Department of Transportation (USDOT), revealed that has revealed that the breach primarily impacted systems managing the TRANServe transit benefits. The system is designed to subsidize some of the commuting expenses for government employees. According to a Reuters report, the personal data of around 237,000 federal employees—comprised of 114,000 currently serving and 123,000 former employees—has been potentially exposed due to the breach. The potentially leaked data includes names, work email addresses, work phone numbers, work and home addresses, the respective agencies they serve or served, and numbers associated with SmarTrip and TRANServe Cards. Currently, the specifics of how the breach occurred and how the hackers gained unauthorized access to the USDOT systems remain unclear. There's also no information yet about whether the stolen information has been misused. Montana Passed Consumer Data Privacy Act On April 21, the Montana legislature passed the Montana Consumer Data Privacy Act (MCDPA) (SB 384), making it the latest state to enact its own consumer privacy measure, joining California, Colorado, Connecticut, Iowa, Indiana, Tennessee, Utah, and Virginia. The CDPA is applicable to any entity conducting business within the state or producing products or services targeted to state residents and, during a calendar year. Either (i) handle or have authority over the personal data of no less than 50,000 consumers, excluding data processed solely for completing payment transactions, or (ii) control or process the personal data of at least 25,000 consumers and earn 25% of their gross income from selling personal data. The CDPA exempts non-profit organizations, registered securities associations, financial institutions, data protected under the Gramm-Leach-Bliley Act and certain other federal legislations, along with entities regulated by the Health Insurance Portability and Accountability Act. InfiniGlobe, a full-service consulting and software company, specializes in systems integration and performance optimization of top corporate legal departments and law firms. For more information, reach out to us at info@InfiniGlobe.com or at (833) LGL-TECH.

May 9, 2023 Report: Annual Litigation Trends Survey The 2023 Annual Litigation Trends survey was participated by 430 general counsel and in-house litigation leaders from USA and Canada from varying industries such as financial services, energy, healthcare, and technology. The report analyzed new trends and challenges on litigation organizations encounter. The findings provide a deep understanding that may help leaders stay ahead of the curve and identify opportunities for innovation and improvement. Below are the highlights of the survey: $1.7 Million is the average median spend on disputes per US$1 billion in revenue 44% of the respondents anticipate a higher volume of lawsuits in 2023 50% said that they were involved in at least one regulatory proceeding in the past year 48% answered that their organization was more exposed to employment and labor disputes in 2022 65% experienced litigation on employment and labor disputes; 51% said it was among the most concerning areas for their organization in the year ahead. 87% consider settling disputes before a trial is important Event: CLOC Global Institute 2023 One of the biggest legal tech events will be held this month. On May 15-18, 2023, leaders of the industry will once again meet to tackle legal innovation and transformation. With this year's theme "Transforming the Business of Law", legal professionals will have a great opportunity for networking and learning from speakers like IN- Q and Baratunde Thurston. Register here. InfiniGlobe is a full-service consulting and software company. Our team of experts has years of industry experience working with top corporate legal departments and law firms. Contact us at info@infiniglobe.com or at (833) LGL-TECH.