Survey: General Counsel Expect Significant Increase in Technology Investments and Artificial Intelligence Adoption
31 Gennaio 2024 - 1:30PM
FTI Consulting, Inc. (NYSE: FCN) and global legal technology
company Relativity today announced findings from part two of The
General Counsel Report. The newly released study found that general
counsel are placing more emphasis on developing technical acuity
and embracing innovation than in previous years, and 75% expect to
use generative artificial intelligence in the legal function in the
near term.
This edition of the report, which is based on a detailed survey
and one-on-one interviews between Ari Kaplan and chief legal
officers at large corporations in every major region around the
world, examined attitudes and technology implementation plans
within corporate legal departments. When asked about their comfort
level with generative AI across a range of legal use cases, most
general counsel expressed a high degree of support — across all use
cases discussed, participants rated their comfort level at a
weighted average of 3.2 based on a scale of one (not comfortable)
to five (extremely comfortable).
In addition to growing openness toward AI use, 77% of
respondents said they have plans to make new technology investments
this year, a more than 20-point increase over the previous year’s
report. Among those who didn’t have budget earmarked to purchase
new tools, some were looking for ways to optimize and enhance
existing technology.
“Unsurprisingly, AI was a major topic of discussion in this
year’s general counsel report, but more than the excitement around
technology innovation was the sense that there has been a distinct
shift in the legal department’s attitude toward technology,” said
Sophie Ross, Global Chief Executive Officer of FTI Technology.
“While lawyers will always maintain a healthy degree of caution,
legal department leaders are more focused than ever before on
trying new technologies, investing in tools, automating their work
and embracing the technological changes that will make them more
effective as strategic business partners. I believe this signals a
meaningful year ahead in legal tech growth, as well as traction for
practical innovations in AI.”
Key findings covered in Part Two include:
- E-discovery was one area in which general counsel indicated
readiness for generative AI solutions, with 80% saying they would
be comfortable (nearly one-quarter said “extremely”
comfortable).
- More than two-thirds said they were comfortable with the use of
AI for compliance monitoring (52% said “very” or “extremely”
comfortable).
- General counsel were more open to their internal teams using AI
than their outside counsel.
- Respondents emphasized that AI use cases should maintain human
oversight, with one respondent saying, “I am also more likely to
trust the use of [AI] by someone who is more seasoned because they
have the experience to know whether it is a legitimate response. I
need a higher level of human discernment when using AI.”
- Contract lifecycle management tools ranked the highest among
types of technology legal departments plan to invest in during
2024.
- When asked about the role of automation and advanced technology
to alleviate capacity demands and increase retention, 75% said they
are considering it, an eight-point increase from the previous
year’s study.
- General counsel are heavily involved in making legal technology
purchasing decisions for their department, with 55% saying they
handle these decisions independent of other stakeholders.
“In what I call the ‘TAR Effect’ — having grown over the 14
years since the Da Silva Moore v. Publicis Groupe judicial blessing
of technology assisted review — e-discovery leads the way in
artificial intelligence. In this year’s edition of The General
Counsel Report, we asked chief legal officers their level of
comfort using AI for six different legal tasks. Not surprisingly,
e-discovery led the pack,” said David Horrigan, Discovery Counsel
and Legal Education Director at Relativity. “We had 92% of general
counsel reporting they were at least somewhat comfortable using AI
in e-discovery, and over half of them were either very comfortable
or extremely comfortable using AI in e-discovery.”
Part Two of The General Counsel Report 2024 is
available for download here. The first installment was released in
December 2023, and subsequent parts will be released in February
and March 2024.
Demographics and MethodologyIn July and August
2023, Ari Kaplan personally interviewed 60 leaders serving as the
general counsel or chief legal officer of their organizations.
Participants were from across North America, Latin America, Europe,
the Middle East and Australia, and roughly half work in
organizations with more than $500 million in annual revenue.
About FTI ConsultingFTI Consulting, Inc. is a
global business advisory firm dedicated to helping organizations
manage change, mitigate risk and resolve disputes: financial,
legal, operational, political & regulatory, reputational and
transactional. With more than 8,000 employees located in 31
countries, FTI Consulting professionals work closely with clients
to anticipate, illuminate and overcome complex business challenges
and make the most of opportunities. The Company generated $3.03
billion in revenues during fiscal year 2022. In certain
jurisdictions, FTI Consulting’s services are provided through
distinct legal entities that are separately capitalized and
independently managed. For more information, visit
www.fticonsulting.com.
About RelativityRelativity makes software to
help users organize data, discover the truth and act on it. Its
SaaS product, RelativityOne, manages large volumes of data and
quickly identifies key issues during litigation and internal
investigations. Relativity has more than 300,000 users in
approximately 40 countries serving thousands of organizations
globally primarily in legal, financial services and government
sectors, including the U.S. Department of Justice and 198 of the Am
Law 200. Please contact Relativity at sales@relativity.com or visit
www.relativity.com for more information.
FTI Consulting, Inc. 555 12th Street NW
Washington, DC 20004 +1.202.312.9100
Investor Contact: Mollie
Hawkes+1.617.747.1791mollie.hawkes@fticonsulting.com
Media Contacts: Ashley Allman
+1.206.369.5209ashley.allman@fticonsulting.com
Relativity PRpr@relativity.com
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