Using artificial intelligence in the practice of law "is a necessity, and firms [that] are not embracing it by this coming year will be at a tremendous competitive disadvantage," predicts Wendell Jisa, founder and CEO of e-discovery provider Reveal. Jisa also writes that 2022 "will be the year legacy tech dies and legal buyers fully embrace next-gen wholeheartedly."
The maker of digital contracting product Ironclad has raised $150 million in the venture capital marketplace and is now valued at $3.2 billion. One investor says that Ironclad, which has L'Oreal and Mastercard among its customers, is the "clear leader" in digital contracting.
Legaltech is becoming more affordable, helping small law firms better compete with their larger brethren, writes Fred Cohen, CEO and founder of Zola Suite. Cohen examines legaltech trends for 2022, including more scalable and efficient tools for client engagement.
Hybrid work will become the standard in the legal industry because nobody likely "wants to go back to the five-day-a-week schedule with a commute," says Jim McGinnis, CEO of practice management software maker MyCase. In addition, McGinnis says the next wave of innovation is "probably not as far as we think," and he cites artificial intelligence for contracts and blockchain applications as examples.
UK law firm Weightmans has rolled out a tool that uses artificial intelligence to better estimate the amount of reserving needed for personal injury claims. The software, MatterLab, was developed in conjunction with Frontier Labs, from which Weightmans purchased the intellectual property.
The International Committee of the Red Cross was forced to turn off its IT systems after its Switzerland-based data storage contractor was hit with a cyberattack by an unknown threat actor. The Red Cross fears the criminals would leak the personal data of over 515,00 "highly vulnerable people."
Google and the University of California Santa Cruz Genomics will develop an artificial intelligence-powered method called PEPPER-Margin-DeepVariant that could help make genome sequencing data analysis faster for disease detection.
The ISACA's COBIT and the US National Institute of Standards and Technology Cybersecurity Framework are recommended resources for organizations seeking to establish cyberresilience and limit potential damage in case of a cyberattack, writes Alexander Obraztsov. COBIT provides guidance on "a range of conventional measures focused on deterrence and prevention of cyberattacks, such as protecting against malicious software."
A phishing attack on environmental protection organizations was uncovered by researcher William Thomas, who also found that Zetta Hosting Solutions owns the hostnames. "Zetta is used a lot by APTs and malware, and I'd be very surprised if they didn't know," said Thomas, a member of Curated Intelligence Trust Group, adding, "[t]hreat actors also like these types of free hostname services where they can setup infrastructure quickly, freely and anonymously."
Connected medical devices must be secure against incidents such as attacks on brain implants. "In the next five years, many of these industries will become fully dependent on IoT devices. ... [T]he manufacturers of these devices, together with the cybersecurity companies and government, have to ... work together to deliver 100% secure IoT devices," warns Chukwudum Chukwudebelu, chief security officer at Simius Technologies.