This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
A bulk of litigation has been stemming from contract failure, and hence, contract management remains one of the biggest concerns facing global organizations today. The advent of technology has elevated contract management software as a partner to leverage data, manage risk, and boost cost savings.
CARET Legals built-in conflict-checking system automatically scans client databases and matter histories to flag potential conflicts before they become an issue. CARET Legals flexible, scalable platform grows with each firm, supporting new practice areas, client demands, and operational structures as they evolve.
These tools can turn contract clauses into data points, which can then be analyzed, filtered, compared, etc., Litigation support professionals have been pioneers in using the principles of Legal Process Improvement (LPI) because of the high volume of client datamanaged during the e-discovery process. Legal Process Improvement.
Far from being an academic concept, “data ethics” presents a model for datamanagement with real practical implications for organizations. (I I should note that I am focused here on personal data.) It is a sensible, resource-sensitive model that helps ensure a diligent organization will not run afoul of current laws.
This includes verifying that AI systems offer adequate security protections, do not share information with unauthorized parties, and comply with dataretention protocols. It cautions against overreliance on these technologies, which may project confidence in their outputs.
For Scott, using AI to create a central source of truth was pivotal in transforming Northern Tool’s datamanagement framework – but it took careful oversight to get there. “From a contract repository perspective, it has simplified access and enhanced data integrity.”
The 2019 State of -Discovery Report produced by FTI Consulting and Exterro estimates that the amount of datamanaged by law firm and law department IT staff has increased five-fold in just the last 5 years. Quite simply, AI/ML technology is the best tool we have in our toolbox in order to stay afloat in the sea of data.
Regulatory bodies often announce and implement new frameworks and regulations to undertake proper due diligence and ensure ethical and fair business conduct. RegTech can help by using technology to automate compliance, improve datamanagement, enhance security, and offer greater transparency to customers.
This is a new offering that can be ideal for lawyers handling the same type of matters repeatedly, like employment disputes or M&A due diligence. When an organization is set up for use of pre-built NLP AI models, it can get through the basic due diligence much faster, leaving more time to focus on higher value input.
Legal teams must now grapple with terabytes of data where once there were only boxes of paper documents. This exponential increase in data volume necessitates new approaches to datamanagement and analysis. Diversity of Data Sources The sources of data have diversified significantly.
A few of the lease administration services are: Lease extraction: Collecting, standardizing, and summarizing unstructured data into an easy-to-read format that can be quickly analyzed. Lease Accounting: Simplify your datamanagement process to ensure FASB compliance.
Legal teams must now grapple with terabytes of data where once there were only boxes of paper documents. This exponential increase in data volume necessitates new approaches to datamanagement and analysis. Diversity of Data Sources The sources of data have diversified significantly.
We organize all of the trending information in your field so you don't have to. Join 99,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content