[Editor’s Note: EDRM is proud to amplify the educational efforts of our Trusted Partner, Venio Systems.]
After the last two years, hopes are high for a more fortuitous, successful and productive 2022. The forced migration to remote work has reshaped the way law is practiced, introduced new trends and sensationalized cryptocurrency into a ubiquitous fiscal craze. As more and more people adopt the latest customs, it’s time for the eDiscovery industry to ensure that data from these unconventional sources is also processed and reviewed.
To combat new and atypical file types, users should expect their eDiscovery software to connect, collect and process the data by direct connection to their source.
Team Venio
As a result, you can expect to see a growing desire for more efficient, more robust and more accessible legal technology in the coming year.
Unstructured Data: Discovering the Unknown
As organizations shifted to work-from-home frameworks, we have seen a colossal increase in the volume of discoverable data and file types, from recorded Zoom and GoTo videos and audios to a surplus of messaging files across numerous platforms like Slack and Microsoft Teams.
Data production is estimated to have nearly doubled over the last two years, with 2021 creating 74 zettabytes alone. For eDiscovery experts, there is no legacy software that can handle this scale of data—driving the need for AI-powered automated collecting, processing, reviewing and producing services.
To combat new and atypical file types, users should expect their eDiscovery software to connect, collect and process the data by direct connection to their source. Our investigation shows that more sophisticated users will leverage an automated legal hold and review service for greater efficiency.
Blockchain Technology: The Bane of eDiscovery
Cryptocurrency is becoming a mainstream part of the global financial system and thus, will play a significant role in future legal proceedings. More discoverable ESI will be created for cases and investigations as more people buy Bitcoin, Ethereum and other types of cryptocurrencies.
Part of what makes cryptocurrency a desired transaction platform is the anonymity and security users are awarded. Most cryptocurrencies use blockchain technology, a digital ledger network, to create a protected, public transaction record that cannot be tampered with by any user.
Legal professionals will need to prepare for additional resources when it comes to accessing relevant files for cases involving cryptocurrency and blockchain technology. Leveraging AI-powered solutions will be monumental in decoding anonymous profiles and transactions.
A Changing Landscape
Blockchain technology and data volume are among the largest contributors forcing change to eDiscovery software. We will undoubtedly see more challenges as we progress through 2022 and beyond. Whether it’s in-house or outsourced, your eDiscovery software should provide a unified end-to-end solution with automated processing, and AI-powered reviews, analytics and production for even the largest caseload.
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