• Another tool for in-house legal departments to manage their spend on outside counsel:  “Bodhala is a legal spend analytics platform that analyzes e-billing invoices and other legal data to provide insights into legal procurement market trends. Essentially, the platform empowers legal professionals to make strategic hiring and financial decisions by comparing their spend to industry standards. For example, a legal department can tell if they are overpaying or inefficiently procuring outside counsel in a particular practice area, such as M&A work.”

 

  • This article from Corporate Counsel considers the various types of analytics currently transforming corporate legal practice, as well as those that will play a transformative role in the future. It includes discussion on benchmarking law firms to identify the best firm and the best attorney for a given case. “In another example, with 80 percent accuracy, patent portfolio managers can use predictive analytics to estimate and budget the cost of patent submission, prosecution or defense. Similarly, companies can use predictive analytics to more accurately forecast the likelihood that legislation will pass and concentrate its lobbying efforts as necessary.”

 

  • Michael Volkov (CEO, Volkov Law Group, LLC) and speakers from Exiger will hold a webinar from the UK on September 13 to discuss automating third party due diligence – and how advancements in technologies such as artificial intelligence (AI) can help compliance programs evolve.

 

 

  • China is set to provide even more support for AI development when it unveils a slate of policies, including tax cuts and setting up national artificial intelligence innovation centers, to beef up support for AI and clear legal risks, local media reported.

 

  • Audi’s new A8 will include Level 3 autonomous driving. Level 3 is the point at which the driver can focus on other activities while driving.