Mon, 23 July 2012
TCG Events (firstname.lastname@example.org)
Our Q3 Leadership Breakfast series kicked off in New York last week with a bang! Thought-leaders from the AmLaw 200 and Fortune 500 gathered last Thursday to discuss how Technology Assisted Review stands to change the way we deal with eDiscovery and information governance. Our conversation was led by four esteemed panelists: Maura Grossman, Counsel, eDiscovery at Wachtell Lipton, David Leone, Director of Litigation Support at Saul Ewing, Jason Lichter, Senior Counsel, eDiscovery & Information Governance at Seyfarth Shaw and Brendan Schulman, eDiscovery Counsel & Special Counsel at Kramer Levin. There was a resounding consensus that Technology Assisted Review is a game-changer and has the potential to change the way that the law is practiced.
As with all "disruptive innovation", there will be winners and losers. The consensus from the audience is predictive coding will reduce demand for "old school" linear review supported by dedicated review attorneys and increase the demand for new high margin Technology Assisted Review talent. Law firms and providers that employ traditional review models will likely see a decrease in revenue over time. Firms that currently outsource review will face a new Total Cost/ROI calculus and may experience a net gain in revenue.
When the conversation circled back to, "What is your biggest challenge, people, process or technology?" an illuminating analogy was offered by Maura Grossman. Technology Assisted Review can be likened to driving a race car. A terrible driver won't be successful, even if given the best car. A top-notch driver is not going to win the race in a bad car. And a great car and a great driver are useless if they don't know how to navigate it. All of the pieces are interconnected and necessary to guarantee the best results. Our conversation also highlighted another point, it is an exciting time in the industry, and we all have the opportunity to be in the "driver's seat" to elevate and accelerate our careers.
At The Cowen Group we like to say, "We are at the beginning of the beginning" of understanding how this applied technology will affect our industry. As we continue our Q3 Breakfast Series and head to our nation's capital for ILTA on August 26-30, we most specifically hope to better understand the impact Technology Assisted Review will have on the demand for talent, your career and your future earning potential.
The Cowen Group will be in six cities in the coming weeks!
If you would like to be considered for attendance for these or future events, please call 212.661.0025 or drop us a line at TCG Events.