44 of the Fortune 500 participated in our Q1 survey. Here are the top 5 takeaways.
Corporate Pain Points, Business Models and Technology Investment Priorities
- Corporate eDiscovery workload is up at 67% of the F-500.
- 77% of corporate counsel expect to increase their use of predictive analytics and artificial intelligence in the coming 12 months but lack the internal resources to execute.
- 43% of the F-500 will increase their use of strategic partners and vendors in response to the increase in eDiscovery workload and complexity of tools and technology in 2017.
- 85% of corporate counsel will not be adding staff- thus relying more on strategic partners and service providers.
- The top 3 technology investment priorities are:
1.Project management workflow software
2. Knowledge management software
3. Legal hold software
Regarding careers and the demand and flow of talent:
There is a rapidly growing convergence and interdependence of EDiscovery, information governance, legal operations and legal procurement roles, responsibilities and authority.
Remaining professionally relevant in the corporate legal space will require skills, competency and experience with advanced technology, advanced project management, improved metrics and the ability to manage up, down and out.
Click here to view The Cowen Group’s Corporate eDiscovery Critical Trends Report.
Thank you to NightOwl Discovery for making this report possible.