October 2024
We're Baaack!
Legal Data Intelligence: attempting to create clarity when dealing with legal data issues.
August 2022
Ok Information Industry time to link those silos....
June 2022
This is the Golden Age of the KM Information Professional- of which some happen to be attorneys. KM will continue to grow and thrive when all professionals legal and informational work together with their digital tools. #legal
April-May 2022
Legal Predictive Analytics- Part 1
Predictive Analytics' Accuracy Is Set to Take Off- Part 2
April 2021
AI and law : making the case
Don’t panic! Artificial Intelligence (AI) is already here and being used in the legal world. It can save time and lead to better managed practices and eventually more profits for lawyers. AI is partnering with attorneys not replacing them.
That is the message from Noah Waisberg, a US M & A lawyer and Dr. Alexander Hudek, a Canadian data scientist with a doctorate in Computer Science in their latest book, AI for Lawyers: how Artificial Intelligence is adding value, amplifying expertise, and transforming careers, Wiley & Sons, Inc., 2021. (E-Book Version)
The authors make the case for AI in the legal world by stating: AI is a great tool for lawyers, firms can use AI to create new businesses and new revenue opportunities. This new tool called Artificial Intelligence is defined as the “human like task done by a computer.” Because data is the foundation of AI, expert systems have been developed to enable AI and ML (machine learning). Examples of expert systems are KIRA and TAR (contract analysis) and the popular tax software, Turbo Tax.
In creating new business, AI and the expert systems can improve the “justice gap.” These software tools can enable new and different cost structures in the legal marketplace and increase levels of legal services to more customers. AI will not replace the writing of briefs; but may be able to “suggest” legal arguments or same “starter” language (i.e., Lex Machine product owned by Lexis Nexis).
With the introduction of AI-enabled E Discovery products, lawyers can solve issues in litigation data gathering while retaining emails as evidence. The authors call this activity the “ED RM” (E Discovery Reference Model) strategy. E Discovery software can help find key information, identify it as such, preserve it, make it searchable and ready to review.
AI has made research litigation analytical concepts and context easier with products such as Blumberg’s Law’s Fastcase, CASETEXT, Westlaw’s WIN and EDGE.
The authors want attorneys, their firms and other legal services providers to ask themselves these questions when reviewing AI and legal applications.
“What areas in your organization are not functioning up to their fullest?”
“Where could AI help you extend your advantages?”
“Have you reviewed technology designed for greater efficiency in these areas.”
And finally, what is holding you back??
February 2021
The author discusses a "shift from HITS TO NICHES" with law firm economies starting to pivot from large offices and big clients to the Virtual Law Firm model and smaller specialized clientele.
January 2021
Some key points in this discussion are: -Lawyers need to understand data interpretation -What is the potential of the data? -Hoping the end game from lawyers will be an "a-ha" moment …see more
Lawyers Say They're 'Ready' for Data Analytics. But Are Analytics Ready for Them? | Legaltech News law.com • 1 min read
October 2020
My first posting to the group is an update of a previous network post. The partnership of the virtual law firm and competitive intelligence (aka business development) is an evolving and important step. Discussion is welcomed.
Legal industry continues to gain traction in analytics with the introduction of a "predictive" analysis technology. These prediction patterns from client information are designed to assist lawyers, not make decisions. The AI company, SparkBeyond is the tech developer.
August 2020
I was recently approached by John Booth with Cipher to comment on the use of EDGAR and Competitive Intelligence needs. Click on the link above to view the article "Using SEC Edgar Database for Competitor Analysis."
This is not a product endorsement.
July 2020
Good article- it should be noted that.... It is lawyers and KM Information Professionals who both bring their expertise to this innovation. I continue to be amazed at the rise of lawyers assuming traditional information /consulting/ librarianship professions such as legal research and now knowledge management.
December 2019
Some highlights from the Brooking’s report “What jobs are affected by AI” ( click on link to see report) published in November 2019.
1. In the past tech analyses concentrated on artificial intelligence and robotics, automation and not on AI affects.
2. By reviewing AI patents and existing job descriptions, patterns can be made into what jobs could be affected by AI, where these jobs are and who has these jobs. Are they white collar jobs and are they legal professions?
3. Research was performed on new AI patents and comparing them to a range of occupations. Over 16,000 patents were compared to data sets within the Department of Labor’s O * Net database. Research was attempting to see links between occupations and potential AI capability jobs.
4. Some patterns were seen showing AI could impact more lower and middle skilled professions with some future impact on higher skilled occupations. Middle skilled occupations required a minimum of a bachelor’s degree. Impacts on high skilled professions such as legal are not affected in this time.
5. Artificial Intelligence may also affect labor markets in large metro areas with high tech center and large manufacturing and agricultural areas in the US.
July 2019
Legal Analytics: smooth sailing or a bumpy road??
This was the consensus from the 2019 AALL annual meeting’s panel discussion on legal analytics. Industry leaders from Fastcase, Thomson Reuters and Bloomberg Law and others agreed that while legal analytics is in its early stages with plenty of potential; the issues of privacy and data integration remain. Vendors and legal information professionals need to continue to work together.
https://www.law.com/legaltechnews/2019/07/15/despite-analytics-being-in-the-early-stages-legal-research-execs-see-bright-future
January 2019
Legal Analytics, Judicial and Predictive Analytics: what does it mean to the legal profession??
Recent articles on the AI and the legal profession can leave the legal observer confused, frustrated and even mad. Many in the profession think AI software and algorithms will replace lawyers. As reported in a 2017 posting on my blog: "Granted, legal analytics has been slow to emerge in firms; because it doesn’t make sense for firms to compare themselves to each other when dealing with `predictive sciences.` Firms need to compare themselves to all services that their clients may need to improve outcomes and productivity."
See some definitions listed below
Predictive Analytics or "what is likely to happen" analysis can be vital in reviewing the following:
Generating a legal strategy
Understanding the opposing counsel strategies
Predicting case outcomes
In the hiring process-determining the best individuals to meet client needs
Judicial Analytics or reviewing judges decisions and looking for "patterns in the way they write and rule." i.e. new research platforms emerging from Thomson Reuters' Westlaw Edge.
August 2018
New” tech disruption and “old” tech disruption---“Old” disruption or something old is new again?
Each year CNBC produces a list of top (50) Disruptor Companies. These are new startups, new processes which may change and/or attack the business status quo. These companies are chosen by a prestigious group of business and academic professionals. From CNBC, “Five companies (Airbnb, Pinterest, Palantir, SpaceX and Uber) have made the list all six years. Each year, we try to discover what the companies that make the list have done that is new, and these five continue to deliver on the promise of what it means to be a Disruptor. And there are newcomers as well, disrupting industries from fitness to finance to feminine hygiene. These are the companies that think differently — and force the incumbent giants to do the same.”
In a recent blog posting from BCG (Boston Consulting Group) reporting on their 2018 European Strategy Leadership Summit the “beauty of disruption” was discussed focusing on embracing disruption and learning from it. Companies need to use disruption to change business models and organizations for future growth, according to the BCG summit.
These discussions got me thinking about some other “disruptions” which may be considered “old news/old school” but may also lead to positive changing business models???…….
· Amazon announced this summer it would publish a “print” toy catalog for this holiday season. With the recent bankruptcy of Toy r Us, the company moved to target another group of potential shoppers.
While Amazon’s catalog is not the only one around (Target and Walmart each have one); it will have more exclusive merchandise, best sellers and a “rating system” for the top 15 selling toys of the top 25 toy vendors. Amazon….moving the commerce needle.
· The emergence of Docked and Dockless Bikes is another old idea taking on new life…many cities, including Cincinnati OH, have installed these bike stations in urban areas like downtown and near universities. Positive images in an area, a positive health message and positive ecological message all help cities build their urban friendly images in order to attract businesses, shoppers and maybe residents.
The next disruption is a little odd ……but here goes
· During a business newscast about the legalization of marijuana in Colorado, several news analysts interviewed sellers, discussing their business plans and business challenges. One “challenge” was the issue of money –receivables. Many sellers were considered federal chartered institutions cannot accept marijuana money. While state chartered banks in many states work to change laws, other small banks and credit unions are coming to the rescue. One solution by many cannabis businesses is meeting some immediate needs for safety and security of their profits…….Free Standing Safes
Regardless of our personal feelings/beliefs about this industry, the safe industry has become an “old disruptor in a new economy.” These are not the old fashioned metal combination safes we may remember from the early banking days. They are high tech, high security safes and vaults. These companies combined safety needs with specialized “cannabis consulting”. This consulting may include not just security of profits but security of the product itself.
There are probably other examples of old disruptors becoming new again. If you can think of any examples, send a comment.
May 2018
UPDATE: Oil States Energy Services, LLC v. Greene's Energy Group, LLC, 584 U.S. ___ (2018), the Court held that the inter partes review process granted by Congress to the United States Patent and Trademark Office for challenging the validity of patents, rather than a jury trial, is constitutional and did not violate either Article III of the Constitution nor the Seventh Amendment.
Decision announced April 24, 2018. >>>>https://www.supremecourt.gov/opinions/17pdf/16-712_87ad.pdf.
March 2018
Are Startups leaving old school Wall Street behind?
When I get my daily CNBC fix on markets and industries trends, I know I will always get an emphasis on publicly traded markets/companies but little coverage on the actual size of the Market. (maybe I missed this coverage on one of the network’s early morning or late night programs??) The number of publicly traded companies listed in the US has deceased by more than 50% since 1997. Market watchers following this trend believe this continued decease could affect US long-term economic prospects (and future competitiveness).
In a recent detailed working paper from the National Bureau of Economics (NBER),“Eclipse of the public corporation or eclipse of the public markets?” Researchers believe this decrease is due primarily to the rise of startups and their desire not to go public.
This shift is due to many factors, including:
· Public markets are not suited to the young, R&D-intense startups.
· There are more money streams for these startups in Private Equity firms.
· US firms repurchase more equity than they issued, resulting in more equity to shareholders and less available in capital markets.
· Startups spend more money on R & D than on capital expenditures (i.e. tangible assets). These assets are more realized for publicly held companies. (see GAAP rules)
· Startups with their intangible-heavy assets do not want the transparent-regulated world of the public companies. Startups have ideas, concepts and processes that are potentially harder to protect and easier to steal.
· In general, the number of US small firms leaving the stock market has increased.
To view the entire working paper.......
http://www.ecgi.global/working-paper/eclipse-public-corporation-or-eclipse-public-markets
December 2017
Oil States Energy Services and the status of the IPR process was reported several months ago in Bloomberg Newsletter. (see article below) The idea that the St. Regis Mohawk tribe could benefit from this potential income stream is heartwarming and encouraging to me and my Native American ancestors.
https://www.cnbc.com/2017/11/27/supreme-court-case-could-deal-a-blow-to-mohawk-tribes-patent-plan.html
Also, see recent comments on the November 2017 US Supreme Court oral arguments. From the Fish &Richardson Attorney newsletter dated 12/13/2017.
https://www.jdsupra.com/legalnews/oral-arguments-summary-oil-states-70805
November 2017
See link to this interesting patent case dealing the process of inter partes review (IPR) making its way through the US Supreme Court with oral arguments heard November 27th. At its core, will be the legality of the recent agreement between major drug company Allergan (now headquartered in Ireland) and the US Native American tribe, the St. Regis Mohawk.
More reflections to come.........
US Supreme Court:
Case 16-712 Oil States Energy Services, LLC, Petitioner v. Greene's Energy Group, LLC, et al.
October 2017
“Customized Research Services” available- provide a topic of interest and I will send you one article a week for 4 weeks @ no charge!! Contact me @ydavis@fuse.net.
August 2017
"That is not to say that next-generation lawyers don’t read or perform research. Far from it. Technology simply helps them do it much more effectively and efficiently.”
Above is a recent quote from the article, “Artificial Intelligence (AI) is molding the attorney of the future” (Law Technology News, 8/7/2017) that discusses several areas in which AI can benefit attorneys. The main point of the article isthe future in now. But, technology will not do away with attorneys; it could instead help lawyers streamline, manage and draw knowledge/conclusions and maybe work smarter.
This concept is further examined in “Doing AI, what legal should remember about Big Data”, (Law Technology News, 7/12/2017). The author states “AI” is really “Advanced Information” in the legal world. AI and Big Data better define the world of publicly available data not necessarily many of the private legal databases. For the legal environment….” Data is provided by human beings and then processed with the use of some logic built and developed within a system. In and of itself, it is not artificial and it is not intelligent.”
Until these systems can recommend the best outcome in disputes, draft the best contract based on internal factors and answer questions on strategic /competitive regulatory firm issues, artificial intelligence can stay in the public marketing arenas.
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July 2017
Proposal for Business/Development Prospect Researcher
To: Interested Entities
From: Yvonne Davis, Professional Researcher
This position may be contract, part time or full time. Salary is negotiable. Contact me at ydavis@fuse.net.
Scope of Work: the following services conducted by the Researcher
· The development and implementation of an Information Audit which will survey the needs of the groups vs. the current resources available.
· Upon completion of the Audit, evaluation of information resources with a presentation of an information resources budget.
· Oversee the management of a prospect identification program, which includes training and maintenance.
· Identify companies, industries, individuals and trends that will assist in growth and further development of the competitive landscape.
· Conduct extensive background on key company prospective executives.
· Executive summaries on key business and industry trends as requested.
Research Methodology: conduct analysis and research using professional online services as well as local and regional print resources. Using the relationship management and proactive prospect research/analysis, this position will also assist in the review and tracking of the information metrics needed to achieve successful proactive identification.
Deliverables: information including industry and trend analysis to be delivered in written formats or electronically as requested.
See job description listed below.
Business Research Analyst
Position is responsible for the planning, designing, execution and communication of a prospect research program to identify strategic information, analysis and research tools to facilitate information sharing of mainly prospect research.
Oversee the management of a prospect information system and assist in the establishment of metrics to track and report on the success of the information system. Communicate assessment of the system at regular intervals and make recommendations to support improvements.
Create and execute strategies to grow the size and value of the information prospect program through aggressive collection, maintenance and analysis of prospective information.
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Development Research: the addition of competitive intelligence analysis and its use with start up businesses.
Start Ups need Competitive Intelligence because.....
Strategic goals are more defined
Early warning is a necessity
CI helps to analyze competitors' social media ( as well traditional media) strategy
It is important to identify investors and boards
A recent Harvard Business Review article " reported on a study of British tax data that covered nearly 2 million companies launched in the UK from 1995 to 2005. The study looked at the competitive environment the companies faced in their first few years and at how long they remained in business. The study “found that companies launched in crowded markets had higher odds than others of failing in the first year—but if a company survived during this early period, it had a much greater chance of making it to the three-year mark." (HBR, March 2013)
Early knowledge of competitive analysis may have had a positive affect on the successful companies helping them better prepare for what was down the road.
Why does my new business need competitive intelligence?
This blog will also review research techniques and offer suggestions for the first time entrepreneur as well as the seasoned professional.
The main goal of "effective" CI is to help businesses and companies monitor competitors and build growth....OK....doesn't the start up want to do the same??
It is a given that most new businesses lack funding and sometimes a budget for CI but it is still vital and important to at least be aware of what competitive awareness can offer.
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June 2017
Big Data 101:
Analytics: what is it and what affect will it have on legal information?
What is it?
The legal profession has been slow to use/embrace analytics and thus maybe missing the benefits of “Big Data” (Legal Style). Analytics refers to “deriving substantively meaningful insight from some sort the data.” Analytics has been in many everyday things-think Netfix suggested “titles” and Amazon’s suggested purchases “windows” appearing in your online searching.
“But it is law in particular that seems to have stagnated in the face of disruptive changes in the market. In a survey at the Managing Partner Forum conference, 66% of attendees said that law firm strategy has not changed at all in light of disruptive change.” It is interesting that law firms remain unchanged, while clients seem increasingly worried about the threat of disruptive innovation. (Thomson Reuters' Legal Executive Institute, 6/23/2016)
Granted, legal analytics has been slow to emerge in firms; because it doesn’t make sense for firms to compare themselves to each other when dealing with “predictive sciences.” Firms need to compare themselves to all services that their clients may need to improve outcomes and productivity.
Big Data & Legal: Partners in Crime???
Analytics has many avenues to its utility. One avenue is “structured” analytics which is a text by text comparison. This is the grouping of nearly duplicate items and looking for common language. This can also be the “collection and identification of document groups that are similar but not really identical.”
Another type of analytics for legal use is “conceptual “analytics which looks at groups of words in repetition. Proprietary software can sift through metadata looking for groups of terms or phrases.
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