A new report from Ari Kaplan Advisors and Opus 2 offers research and analysis for litigation teams seeking a competitive advantage in the rapidly evolving legal landscape.
NEW YORK, Dec. 4, 2024 /PRNewswire-PRWeb/ -- Ari Kaplan Advisors, a leading legal industry analyst, and Opus 2, a global legal software and solutions provider, today announced the release of a new report based on research of leading law firm litigation departments.
The report, Advancing Litigation Support to Fuel Growth in a Changing Legal Market, is the first of its kind and provides industry benchmarks, analysis of challenges and market trends, and an overview of the litigation technology landscape.
Key findings include:
Market trends impact workloads
The report reveals that litigation caseloads, data volumes, and complexity are on the rise. These trends are expected to continue, which presents both challenges and opportunities for law firms, particularly those pursuing litigation revenue growth.
- 93% report that the amount of data they manage in an average case is increasing
- 83% expect their caseloads to increase in the next 12 to 18 months
- 60% say these conditions could pose a challenge for their team
Outdated technology poses challenges
A significant concern, in light of market trends, is the reliance on outdated technology. Nearly 40% of respondents use case management solutions that are more than 6 years old, which they described as inadequate for current needs. These solutions may become a barrier to growth if they cannot adapt to meet changing needs and evolve as technology advances.
GenAI is a competitive advantage
Most firms are in the early stages of deploying generative AI (GenAI). And 87% believe that AI-assisted case management software is a competitive advantage. Respondents say that GenAI will transform document analysis, transcript management, case chronologies, and case strategy.
In addition, the report explores innovation in litigation support, migration to the cloud, and how leaders are developing new skill sets.
"Litigation teams are comprised of the most skilled and strategic professionals in the legal industry, but they increasingly need to balance cautious progress and timely innovation," said Ari Kaplan, Principal of Ari Kaplan Advisors. "We're at an inflection point where waiting too long to determine how others adopt generative AI may allow peer firms to create an innovation gap that could be challenging to overcome. To stay ahead, teams should proactively adopt best-in-class litigation solutions that include AI assistance to enhance productivity, improve outcomes, and maintain their competitive edge."
"This research underscores the pivotal role of technology in litigation and its ability to transform the future of the legal industry," said Beau Wysong, Senior Vice President, Global Marketing, at Opus 2. "We were honored to partner with Ari Kaplan Advisors to support this research and offer litigation teams insights and strategies to help them prepare for the future."
To access the full report, visit opus2.com/litigation-support-industry-research.
About Ari Kaplan Advisors
Ari Kaplan Advisors is a leading legal industry advisory company that publishes benchmarking reports on legal technology trends, and delivers networking and business development training for law firms and other providers of professional services. For the past ten years, the consultancy has published E-Discovery Unfiltered: A Survey of Current Trends and Candid Perspectives to provide leading vendors with insights about their businesses from members of their target audience, as well as their views on a range of key trends. Company principal, Ari Kaplan, is an inaugural Fastcase 50 honoree, a fellow of the College of Law Practice Management, and a finalist for the International Legal Technology Association's Thought Leader of the Year award. Learn more about Ari Kaplan Advisors at https://www.AriKaplanAdvisors.com.
About Opus 2
For more than 15 years, Opus 2 has developed award-winning solutions trusted by the most successful law firms. Used in thousands of proceedings around the world, Opus 2 transforms how lawyers and other legal professionals work by eliminating inefficiencies and connecting them with the collaborative software they need to work smarter and more effectively together. The company also delivers the essential technology and expertise needed to conduct resolution proceedings in the most modern, seamless, and secure way possible. Learn more at Opus 2.
Media Contact
Chris Fickett, Opus 2, 1 9132257707 707, [email protected]
SOURCE Opus 2
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