EDRM Trusted Partner, Venio, and its experts developed a repeatable and predictable test to evaluate eDiscovery trends across six dimensions:
- Reach
- Impact
- Urgency
- Maturity
- Effort
- Effectiveness
Venio employs these six dimensions because Venio strongly believes developing tech, just for the sake of it, is pointless. A deep analysis of what should be done and which technologies can significantly improve users’ lives helps drive Venio’s own innovations while never losing sight of users.
Venio’s team of experts identified 9 trends on the horizon for 2022:
- AIML – will continue to evolve and seep further into aspects of our everyday lives, what does that mean for legal technology?
- NLP – a concept that has been around for decades, but new technologies, like Google’s BERT, create new NLP models that allow it to consider context from both the left and right sides of each word.
- Blockchain technology – is becoming more mainstream but still poses a technical and legislative challenge for legal practitioners.
- Data – extraordinary amounts of both structured and unstructured data are being produced, how can we collect, analyze, cull, process, and review it all?
- Cybercrime – hosting legal data, whether in the cloud or on-premise is becoming a nightmare as malicious actors are constantly trying to steal and hold your data hostage. Contrary to the popular belief, on-premise data hosting is no safer than public cloud hosting.
- Social Media – wide adoption of social media to share information (both personal and professional) leads to the need to identify, collect, analyze, process and review comments, posts, images, and even interactions, such as “likes and shares”.
- AR/VR – Metaverse is being called the next trillion dollar industry. Companies like Meta are already promoting it as a way to conduct official business including meetings, conferences, browsing, and general terminal and keyboard use.
- Remote Workforce – the concept is as old as the internet itself but the pandemic has made it mainstream. As we look ahead, we should ask ourselves if the end of the pandemic will force us back into the confines of our cubicles, or if remote work is here to stay. A recent survey by Gallop shows that nearly 60% of workers prefer a hybrid work schedule and 32% prefer an exclusively remote work schedule.
- Cloud First – gone are the days when IT was questioning the validity of cloud computing. Today, every major organization has segmented their workloads and taken a cloud first approach as long as it aligns with their compliance and regulatory requirements. Some of the largest industries in the world, such as automobile manufacturers, security companies and even pharma are considering eDiscovery in the cloud.
After extensive analysis of the nine trends listed above and putting each through Venio’s rigorous six dimensional test, the experts found that data, AIML and blockchain technology scored the highest with 7.4/10, 6.9/10 and 5.2/10, respectively. These three entities will create unmatched challenges and changes to eDiscovery this year.
Venio Systems’ co-founder and Executive Vice President, Chris Jurkiewicz, was joined by the president of ACEDS, Mike Quartararo, to discuss the biggest eDiscovery trends 2022 has to offer and how they will reshape the legal industry.
Read more and listen to the webinar here.
