The often-cited possibility of cybercrimes, however, is one of the downsides of cloud computing. There has been a significant rise in the incidents where hackers attacked law firms.
FREMONT, CA: In the legal sector, we have been monitoring the influence of technology and innovation for a long time. After all, the legal market is expected to produce nearly $300 billion in sales this year in the US alone. So, it's a great opportunity and an ancient profession: the ideal mix for technical disruption. Here are five trends that have already had a significant impact and will shape things to come:
The Rise of Artificial Intelligence
No matter who you ask in the industry, everybody agrees that Artificial Intelligence (AI) is the game-changer for the legal industry. In reality, AI, Machine Learning, and Deep Learning are at the core of many legal tech solutions. These terms are also used interchangeably, but not here. Therefore, to explain how they affect the market, we first outline what we mean by them.
The latter applies to more realistic AI, i.e., technologies that can perform complicated things better than humans do. Instances such as image detection on a platform like Pinterest and face recognition on Facebook are examples of narrow AI.
The practice of using algorithms to parse data, learn from it, and then make a decision or prediction about something in the world is machine learning. An example is a spam filter that has been known to predict which emails, which have landed in our inbox are junk based on data and algorithms.
The Shift to the Cloud
Legal businesses are among cloud computing's most hesitant adapters, but there is no doubt about whether we are going in the direction we are heading. The benefits of cloud computing are too significant for the industry to continue to use it, and the advances in the cost of cloud production have decreased. It is no longer limited to profitable use by large businesses. Cloud computing does not require companies to create costly IT systems and manage them. It also improves organizations' versatility as it is easy to use resources as needed, and it is easier to access and recover data.
Cybersecurity Activities
The often-cited possibility of cybercrimes, however, is one of the downsides of cloud computing. Law firms' systems are an enticing target for criminals, considering their access to sometimes delicate and sensitive information. The Panama Papers or last year's ransomware attack on DLA Piper are only two prominent examples.
Therefore, cloud computing is considered more insecure. Although exchanging files with other organizations on servers can be the source of confidence problems, it is less clear to address the question of whether cloud storage is more or less dangerous than on-site servers.
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