Additional significant findings include:
TYPES OF TECHNOLOGY SOLUTIONS AND IMPLEMENTATION:
Survey respondents included 65 percent from small legal teams (10 or fewer members), with the remaining 35 percent coming from larger teams (11+ members). For both team sizes, contract management, human resources and law firm relationship management was nearly identical. Large teams differed with case management and dispute resolution, with nearly twice as likely to use.
Survey results showed that budget was a key element of any support received from the wider business. 62 percent said that their department had received an increase in budget specifically for technology over the last five years and 38 percent said they had not. Of the 62 percent of respondents who had, 95 percent felt their company was supportive of implementing new technology, compared to 73 percent who had not.
USE OF ARTIFICIAL INTELLIGENCE (AI):
AI is shrouded in uncertainty for in-house departments. Only 8 percent said they were currently using an AI solution, though 28 percent said they were aware of other in-house legal counsel teams utilizing AI. For those not yet utilizing AI solutions within their department, every respondent said they were open to using with three to five years as the most commonly cited timeframe for implementation.
FIRM GC RELATIONSHIP:
When it comes to external law firms and use of technology, 97 percent of respondents stated that a firm staying abreast of new technologies was at least somewhat of an important consideration. But, only 35 percent of respondents said they were satisfied with the use of technology by their external firms. 26 percent also said they looked to external firms for guidance with technology, and 18 percent said their firms had offered to share or help with implementation of tech systems.
With legal technology transforming the business landscape for in-house counsel, there is a rise in concern around how it may implicate professional ethics, with 18 percent of respondents reporting that implementing new technologies within their teams had raised ethical questions. Data use and protection was a main focus when ethical questions were at hand.
For further results of the study and to access the special edition, visit GC Magazine's site here.
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