Dive Brief:
- Nearly seven in ten (68%) legal professionals at law firms of various sizes are using legal analytics as of early this year, according to an industry report. The survey found that all users of the technology find it to be valuable to their work.
- Eight in ten law firm professionals say the use of legal analytics is required or somewhat expected by clients, and they also say they can use the data to demonstrate their expertise to clients.
- Users of legal analytics tools are much more excited and also more concerned about generative AI than non-users, according to the Impact of Legal Analytics survey from Lex Machina and LexisNexis.
Dive Insight:
The use of legal analytics has grown from 36% of law firm professionals in 2018 to nearly 70% in the recent survey.
Slightly more than seven in ten (71%) law firm professionals use analytics tools for case assessments, as well as to gain competitive insights on opposing counsel, parties, judges and more, the report said. Another 56% use the technology for determining case strategy.
In the business of law realm, 57% of law firm professionals utilize legal analytics for competitive intelligence to find and evaluate new business. Roughly one in four use the technology to support litigation finance.
About two-thirds of law firm professionals would like to integrate legal analytics with other available data in their organization, the report said.
Additionally, 65% of law firm professionals who use legal analytics are very or somewhat excited about generative AI, while 73% of them are very or somewhat concerned about the emerging technology.
By comparison, 31% of non-users of legal analytics are very or somewhat excited about generative AI and 59% of them are very or somewhat concerned.
Furthermore, 57% of legal analytics users feel very prepared or somewhat prepared about generative AI and 24% feel very prepared or somewhat prepared about the technology.
“A record number of legal professionals stated that their clients expect or require them to use legal analytics in their practice, with 100% of legal analytics users finding it valuable to their practice,” said Karl Harris, CEO at Lex Machina, in a press release about the report.
“In addition, two-thirds of legal analytics users expressed excitement about the possibilities of generative AI,” Harris continued. “These annual surveys continue to demonstrate that legal analytics has simply become an essential component of successful litigation and business strategy.”
The legal analytics survey was conducted in January with an email sent to U.S. litigators, librarians and legal business professionals at law firms of varying sizes. The survey received responses from 358 individuals.
