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Annual Legal Analytics Survey Reveals: Client Demand Continues to Drive High Usage of Legal AnalyticsIn the 2024 Annual Legal Analytics Survey, 80% of Legal Professionals reported that clients required or expected them to use Legal Analytics, and twice as many Legal Analytics users felt prepared for generative AI compared to non-users MENLO PARK, Calif., Feb. 5, 2024 /PRNewswire/ -- Lex Machina and LexisNexis recently conducted their annual Impact of Legal Analytics survey. Each year, Lex Machina reaches out to legal professionals, both customers and non-customers, in order to gain insights into how Legal Analytics continues to be used and perceived. The survey gathered responses and reactions regarding the key drivers and barriers to adopting Legal Analytics, the value it brings to the business and practice of law, and how it is being utilized in the legal industry. More than 350 responses were received from U.S. legal professionals at law firms of all sizes. "Our annual survey highlighted several important perspectives that shine a spotlight on the crucial role Legal Analytics plays in leveraging the most cutting-edge technology to aid attorneys in elevating their practice and satisfying their clients," says Karl Harris, CEO at Lex Machina. "A record number of legal professionals stated that their clients expect or require them to use Legal Analytics in their practice, with 100% of Legal Analytics users finding it valuable to their practice. In addition, two-thirds of Legal Analytics users expressed excitement about the possibilities of generative AI. These annual surveys continue to demonstrate that Legal Analytics has simply become an essential component of successful litigation and business strategy." Some of the significant data-driven findings include:
About LexisNexis Legal & Professional About Lex Machina Lex Machina was named one of "Legal Tech's Most Promising Solution Providers" (CIO Review Awards 2022), "Greater Bay Area Top Workplaces 2022" (The San Francisco Chronicle Top Workplaces in the Bay Area 2022), "Legal Tech Company of the Year 2021" (CIO Review, 2021), "2021 Legal Technology Trailblazer" (National Law Journal Trailblazer Awards, 2021), Winner of the "Media Excellence" Award for Analytics/Big Data (13th Annual Media Excellence Award, 2021). Based in Silicon Valley, Lex Machina is part of LexisNexis, a leading global provider of legal, regulatory, and business information and analytics. For more information, please visit www.lexmachina.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/annual-legal-analytics-survey-reveals-client-demand-continues-to-drive-high-usage-of-legal-analytics-302049493.html SOURCE Lex Machina |