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In today's business climate, clients demand greater efficiency when it comes to contract review for many complex deals and transactions. We have found that the combination of deep legal expertise, coupled with embracing carefully researched and vetted technology, is the most effective means of delivering high quality and timely review in an increasingly competitive marketplace.
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Cybersecurity has been a high priority topic for the SEC the past few years. In September 2017, the SEC created a Cyber Unit within its Enforcement Division. This Cyber Unit had over 225 active investigations at the SEC's 2018 fiscal year end. The SEC has focused in particular on cybersecurity risks facing public companies.
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Part Two of a Two-Part Article
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Gone are the days of naively assuming our confidential data is secure. Increasingly, clients, stakeholders, regulators and others are demanding proof that firms are actively protecting the PII to which they have access, and this evidence is being demanded both before and after security incidents. It is imperative law firms have the positions and processes in place to handle security incidents with urgency, accuracy and completeness.
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As a matter of practice, law firms generate and store incomprehensible amounts of data. Most, if not all, of that data has been digitized and many firms that recognize the untapped value of their data have begun to leverage sophisticated technologies to mine it for reusable work product and valuable insights.
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There is great enthusiasm about what AI can do to promote better living conditions, evoking wisdom, providing business intelligence through deep analysis of behavior and habits, by signaling trends and anticipating demand. But there are other considerations as well. A critical one is cybersecurity.
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The healthcare industry is facing an alarming proliferation of cyber perils. Why? Because our healthcare system is a "soft target," and particularly vulnerable because of its lifesaving work, where time is of the essence. It's a recipe for disaster from a cybersecurity standpoint.
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The Country Is In Dire Need of Experts Who Possess the Advanced Knowledge, Skills and Experience Required to Combat Cybersecurity Crimes In an effort to protect our financial, personal, medical, and otherwise confidential data, as well as our election systems, we need to continue to attract and employ the services of the most qualified cybersecurity experts from around the world. However, at present, there is a dire shortage of such qualified experts in the United States.
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All companies face cybersecurity threats, but the legalized cannabis industry's storage of personally identifiable information and reliance on seed-to-sale tracking software can place it firmly within hackers' crosshairs.
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Expanding the Scope of Data Has the Potential to Slow Down Discovery and Increase Cost, But If New Data Types Contain Uniquely Dispositive Content, It Will Be Necessary to Include Them In Order to Achieve Just Determinations Data types evolve faster than law. New data types are expanding the scope of discoverable data. The variety, velocity and complexity of electronic evidence challenge legal processes and the technology-enabled legal applications that are designed to support them.