The next two years could see analytics become an essential part of law firm litigation practice and decision making, according to a poll hosted at a Herbert Smith Freehills event during London International Disputes Week (LIDW).
Nearly half (44%) of audience members attending the LIDW week event, which was co-hosted by Herbert Smith Freehills Partners Alexander Oddy and Emma Deas alongside Brick Court Chambers, thought that the next two years would see litigation analytics and business intelligence being seriously embedded within their practices.
This is significant, as another opinion poll taken during the session revealed that 34% of audience members were not currently making use of litigation analytics at all, and only 28% were using it already - but in a very limited way. This could point to the beginnings of a significant shift in how law firms begin to seriously look at how analytics and business intelligence could combine with their existing litigation offering.
The event on 14 May, 2021 included panellists from Solomonic and Vannin Capital. The panel examined some of the litigation analytics tools available to the stakeholders in litigation to assist in the running and resolution of disputes. They explored the issues from different perspectives and how technology would shape the development of dispute resolution in London in the coming years.
Commenting on the results, Alexander Oddy said: "Whether you're an early adopter, a nervous fence-sitter, an ostrich with your head in the sand or are just experiencing a bit of FOMO, it looks like we're at a point of inflection in terms of the adoption of litigation analytics in the UK."
LIDW was hosted virtually from 10 – 14 May 2021 and brought together legal practitioners from around the world to celebrate the heritage of London as a disputes centre and to consider the future of global dispute resolution.
Herbert Smith Freehills is a proud founding member of this important event and joined forces with more than 50 other firms, barristers chambers, academics, legal commentators and dispute resolution organisations to initially help launch the week.