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The pandemic impacted the business of law in a variety of ways, and I was fortunate to identify shifts in the application of data to decision-making, the perception of profitability, and the pace of innovation for a new report — Implementing Financial Intelligence to Give Law Firms a Competitive Advantage in 2022 and Beyond — published by a consortium of companies that includes BigHand, BRYTER, and SurePoint Technologies. It features the perspectives of 20 chief financial officers, seven finance directors (three of which serve as the CFO since they are the department leader), and three accounting managers at law firms of various sizes (with a median of 103) throughout the United States.
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AI Needs Its ‘Come the Jesus’ Moment
By Steve Salkin and Brett Burney
It’s time to stop the hype, stop talking up AI as if it’s the next best thing since sliced bread and prove that it’s a useful tool and technology that can actually be used in the actual practice of law.
U.S. Regulators Lift the Curtain on Data Practices with Assessment, Reporting and Audit Requirements
By Alan Friel, David Manek, Sasha Kiosse, David Farber and Colleen M. Yushchak
The assessment and audit requirements of the new generation of state data protection laws will force U.S. companies to move beyond mere window dressing and instead require them to develop fulsome data protection programs.
Artificial Intelligence Redefines Our Defense Against Cyber Threats
By Roy Hadley
The cybersecurity landscape is on the brink of a transformative shift, with predictive analytics and behavioral analysis leading the charge for more resilient and adaptive defenses.
Deep Fake of CFO on Videocall Used to Defraud Company of $25M
By Scott Warren
It appears that hackers are using AI to sift large digital data to identify more convincing approaches for their scams as well as weaknesses in weaknesses in software coding or network security.