Cyber security is now a board-level item of technology spend, but increasingly firms are investing in tools that price more accurately.
HSBC and The Lawyer have produced the second joint research report on law firms’ investment strategies in legal technology. This year, the report is based on a survey of 52 UK-headquartered firms, including responses from 50 per cent of the UK Top 50 largest firms ranked by revenue.
Following on from last year’s analysis, the survey sought to identify trends and changes of direction in technology investment across UK firms. The rise of machine learning and AI has rightly generated a lot of interest in the last two years, but are firms continuing to invest in these technologies or are they being pulled in different directions?
Commenting on the analysis in The Lawyer, Abby Ewen said: "I think people are wanting to invest but they are probably being quite cautious, simply because it’s difficult to see where the returns are going to come from. I suspect when the returns do start to come they will grow exponentially, as people will really begin to understand how they can apply some of these new technologies to their particular businesses.”
Abby's comments along with the full article can be accessed here.