The process of dispute resolution has not really changed over the course of human history. It is still the process of finding a solution to a problem or challenge that arises between two or more parties. However, the tools, techniques, and technologies involved have changed and will continue to do so. Currently, there are several technology trends that you should know about.
Like other fields, the legal industry is being affected by cloud computing; this is a positive thing. This allows data to be stored online, accessed from any device with an Internet connection, shared easily with others around the world, and many other benefits.
Electronic discovery has become a field itself with the increasing amount of digital information and electronic mediums that contain data vital to court cases and legal decisions. Electronic discovery continues to evolve as well thanks to the ever-increasing amount of digital data.
Choosing Outside Counsel
Another area where technology is playing a role is in choosing outside counsel. Data analytics can help to make the process of choosing outside counsel simpler and easier, but can also help to ensure a more accurate decision is made.
As more data breaches put sensitive information into the hands of hackers and black market sellers, cybersecurity becomes increasingly important. Small law firms must take the same proactive steps to ensure information security at large firms. Technology is just part of the equation here, though. Awareness and staff training on how to recognize phishing attacks, training on password hygiene, and information security best practices are also important elements.
Blockchain is the technology that underpins cryptocurrencies like bitcoin and Ethereum. It has many applications outside of cryptocurrency though, including smart contracts, risk management, and business agreements.
Machine Learning and AI
To be clear, we’re not talking about robots or androids here. We’re talking about the everyday AI that already surround us and make it possible for Netflix to recommend movies or TV shows, or for Amazon to show you related items to your purchase. In the world of dispute resolution, this software combined with machine learning capabilities, is reducing research time, helping ensure information accuracy, reducing costs, and more.
These are just some of the technology trends within the area of dispute resolution. Others include argument preparation, legal strategy development, technology assisted reviews, improved legal searches, and more.