Last week marked the annual congregation of many of the world’s leading legal technology companies in New York City. It’s an event that I and many of my contract analytics colleagues, including Steve Harber, Joni Miller and Julian Tsisin, have attended for, shall we say, “more than a decade.” It’s always great to catch up with old friends and it’s equally fascinating to see the direction of the event.
With five events going on simultaneously, this year’s Legalweek was a testament to the evolving nature of the industry. For a show that was dominated by discovery service providers a decade ago, the transition is remarkable. Most of the major players in the eDiscovery industry now view their presence and booths as little more than obligatory … and a lot of the minor providers no longer show, finding the event too big to attract enough attention. With that said, it’s clear that new technologies such as legal AI continue to enter the space, which was reflected by an increasingly diverse set of exhibitors and attendees.
On the heels of the event, here are a handful of observations:
- As we at Seal Software know well, the contract analytics market is booming. Our sessions with legal AI partners and customers were at an all-time high. The Seal story, which encompasses enterprise scalability, thousands of pre-built models for advanced use cases, and the fastest and most flexible AI training system available, is clearly resonating with the evolving legal industry.
- One of the most exciting aspects of the show was receiving input and ideas from our contract discovery customers and partners. Seal has already been deployed across multiple continents and hundreds of use cases, but it’s amazing to see all of the new and different places and use cases that our customers want to take the Seal contract analytics platform.
- Immediately following the show, law.com published an article about a recent Consero Legal Operations Survey which showed that nearly 2/3 of all corporate legal services departments are considering introducing AI powered software solutions in the near term. Interestingly, the same study reflected a high degree of skepticism for the use of blockchain among 95% of respondents.
While the Legalweek experience can be a little exhausting, it also remains a highlight of the year to spend time with so many old friends … and it’s even better when those friends share in their belief and commitment to our legal AI platform.
If you are interested in learning more about the impact of emerging contract discovery technologies and AI on the legal services industry, <click here>.