Page 26 – Integreon

LINK Live! in Atlanta 26th June

📅 Date: June 26th 📍 Location: Moxy Hotel Midtown, Atlanta Join Integreon for LINK Live! in Atlanta! We’ll be Unlocking the Future of Legal Operations. Discover generative AI trends, explore GPTs, and dive into breakout sessions on staffing, organizational design, and outside counsel management. Bring your toughest legal ops challenges to the table, and we’ll discuss ideas and solutions. When the work is done, we’ll hit the town for an upscale reception to relax and network with the brilliant minds of the LINK membership community. Registration is limited. In-house professionals should register today REGISTER HERE

LINK Live! in Chicago 18th July

📅 Date: July 18th 📍 Location: Ivy Hotel (Mag Mile), Chicago Join us for LINK Live! at the Ivy Hotel (Mag Mile) in Chicago! We’ll be Unlocking the Future of Legal Operations! This intimate, members-only event on July 18th is an exclusive opportunity to explore generative AI trends, explore GPTs, and dive into breakout sessions on staffing, organizational design, managing contracts & extracting valuable data, and optimizing legal research to minimize outside counsel spend. Learn how legal ops can lead this transformation! Registration is limited. In-house professionals should register today REGISTER HERE

ALM Consulting Magazine’s Top Consultants Award

Thursday, June 27th Chelsea Piers, New York City Join Integreon at Consulting Magazine’s Top Consultants Event! Since 2000, Consulting Magazine has identified the most influential practitioners in the consulting professions – those individuals having the biggest impact on their clients, their firms and the industry – and recognize them as a Top Consultant. Learn More About Integreon Integreon, a global leader in presentation design and production, research, and administrative support, empowers consulting firms to achieve efficiency, growth, and operational depth. With over 2,000 designers, researchers, and specialists and a 24/7 global delivery model, Integreon enables your case teams to focus on core business activities and innovation. We have been a trusted partner for some of the world’s leading companies, providing tailored presentations, design, research, admin support, and a suite of creative and business solutions to help transform your business performance and level up your efficiency. To set up a meeting, please reach out to Murray Joslin. Learn MoreSchedule a Meeting

Five Reflections on the State of Gen AI in Legal Services

I spent the last week in the UK, meeting with the Integreon’s strategic partners, and our London team. There, I also spent a lot of time listening to legal counsels across industries. Together with the latest announcements from ChatGpt 4.o, Google Gemini, and Anthropic Claude, here are my five reflections on where Gen AI stands relative to legal ops / legal services: 1. Gen AI and AI are both revolutionary and evolutionary Most senior legal executive leaders I meet see Gen AI as a clear disruptor that has already started and will continue to revolutionize the legal services industry. There is a recognition that the legal profession tends to be conservative and cautious. At the same time, over the last two decades, how law is practiced today has changed dramatically thanks to the introduction of many technologies over time in an evolutionary manner. Thus, we can think of Gen AI adoption in this space as a classic Amtrak train: not yet a high-speed bullet train per se, but before you know it, overnight, you find yourself in a different city. 2. Gen AI can shift the focus of the legal profession from reactive to proactive Most legal services today are focused on resolving litigation after disputes and incidents. As Gen AI makes legal research and CoCounsel cost-effective and easily accessible, trading partners can now more easily discover legal risks and develop proactive mitigation strategies based on proven case laws, while reducing the workload on the in-house counsel. 3. Cost is the #1 concern, followed by data privacy for Gen AI adoption. Surprisingly, the inaccuracy of the Gen AI response is the last concern for many general counsels. This does not mean accuracy is less important. It does mean Gen AI has crossed the threshold of viability. Now the center of innovation is pivoting toward value generation and securing data privacy with confidence. 4. Vertical specialization for accuracy and performance Not all Gen AI tools are created equal. While large language models (LLM) will continue to advance at record pace with near-magical breakthroughs, much of the latest progress is in application and democratization of access and ease of use, not necessarily in the underlying LLM core technologies. In legal services, context and nuance matter. A deposition summary can differ materially from a contract summary in both content and the purpose of the summary for the next best actions. Thus, vertical specialization building on the horizontal generic LLMs is better suited for this purpose as they make the inference process more accurate and efficient. For this very reason, we formed a strategic partnership with ContractPodAI and LeAh in the contract services space. 5. Talent and core competency development inform and sustain service and technology partnership To ask the right question as an input prompt requires deep domain knowledge, critical thinking, and well-trained skills in prompt engineering patterns and best practices. Advanced prompt engineering today is the new programming language for Gen AI tools. With the pace of change we’re seeing today, service providers need to train AI/Gen AI talents at scale. This can be done with the advantage of process expertise and economies of scale; Legal service providers can build out rich prompt libraries to train delivery staff at scale. It’s a bit like when Henry Ford invented the Model T: a lot more drivers had to be trained so that Henry Ford could maintain the pace of production and thus create a virtuous cycle of mobility transformation. Looking to the next few years, close partnerships between service and technology partners can help in-house counsels adopt Gen AI and achieve value for the business faster and easier.

Cyber Risk & Insurance Innovation USA

Join Integreon at Cyber Risk & Insurance Innovation USA! Integreon is excited to sponsor the upcoming Cyber Risk & Insurance Innovation conference in Chicago May 29th – 30th. This event will bring together all of the stakeholder in cyber insurance for a productive discussion delving deep into the crucial topics such as the threat landscape, war exclusions, systemic risk and market conditions, while tackling how to navigate the SME sector, the legal maze reshaping cyber insurance, the game-changing role of AI and the power of data in risk analysis. Expert Panel Discussion Overcome Systemic Risk and Assess Market Preparedness Through Collaborative Cyber Defenses Thursday, May 30th at 11:55am – 12:40pm Dive into systemic cyber exposure and assess the market’s preparedness for systemic events, promote market-wide threat assessment and shared cybersecurity best practices to enhance sector resilience through collaborative defenses. Get on top of accumulation risk and understand best practices for measuring and safeguarding against widespread exposure, utilize AI analytics and scenario-based testing to stabilize premiums and achieve sustained growth. Bridge the protection gap and determine the accuracy of tools such as threat intelligence and vulnerability scans, prioritize cutting-edge technology and cybersecurity firm partnerships to reduce unexpected claims and ensure long-term sustainability. Panel: Crystal Boch, Aon Lou Botticelli, Markel Anshu Gupta, Integreon Connect with Integreon Integreon will be on site all week and would welcome the opportunity to connect. Reach out to our cyber experts ahead of the event to set up a meeting to connect with us in person. To set up a meeting, please reach out to Brian Duke. Schedule a Meeting Learn More

The Race is on! A view from the CLOC Global Institute Exhibition Hall 2024

As the world turns from the Kentucky Derby to the Preakness and on to the Belmont Stakes to round out the triple crown, many of us in the legal profession are returning from the Las Vegas CLOC Global Institute 2024. As you think about what we saw from the attending vendors it is hard to miss the parallels with those famous horse races, except of course that not everyone in the running is a peak performance three-year-old. Before attending I’m sure we all checked with the oddsmakers. Those oracles of business that through their “magic” tell us who is innovative and well established, who is up and coming, and who is on the decline. But industry commentary isn’t always “gospel” so it’s worth a quick recap to validate the current state of the vendor offerings. As we walked the paddock (exhibit floor), it was clear that certain stables are combining their horses, and known jockeys showed up with new colors. It is a small legal world after all. Progress from 2023’s AI hype has been steady but probably for most of us a bit slower than expected based on last year’s excitement. Clearly the track is still a bit muddy, and vendors are jockeying to differentiate themselves as the market settles into a baseline set of capabilities that all must aspire to fulfill. Key differentiators that vendors are emphasizing to varying degrees of capability are: • The state of redlining (guidance v. substitution v. surgical editing) • Use of multiple LLMs to optimize model performance • MS Word or plug-in compatibility • Summarization • Data extraction • Chat inquiry and search • The state of their roadmap and direction of future enhancements. AI security questions loomed large as the big market concern coming into this race. But messaging is beginning to coalesce around what constitutes a safe operating environment, and clearly, no one is sharing data outside of their instance or training anyone else’s models. I don’t want to name names, but we’re seeing the beginnings of a convergence of CLM with ELM with Document Management. It is currently a toss-up whether success lies with the mature winners, the young thoroughbreds, the new colts, the overseas imports, or with older champions still clinging to their legacy. And, of course, we can’t lose sight of those scratch entries, conspicuous by their absence but perhaps a funding round or acquisition away from a come-from-behind victory. There is currently no clear winner, with the current leaders holding on by a nose-length advantage in a very fast-moving race. One nice to see development was entries in the alternative race category. For a change, there were vendors present who were actually focused on smaller in-house teams with solutions that specialized in affordable, easy-to-deploy, and use solutions. Legal technology remains a competitive race, and that competition pushes great ideas and innovation. Generative AI as a language-based innovation is ripe for revolutionizing the way Legal work is done. It’s great to see so many vendors dedicated to embracing this technology and making a difference in the legal world. We may not see a triple crown winner this year, but we are seeing some great races that ultimately benefit us all.

Best Practices for Reducing the Cost of a Cyber Incident for Small to Mid-Sized Businesses

This article originally appeared American Business Magazine on May 2, 2024. View the original article here. Many small- and mid-sized business owners believe that they are not prime targets for a cyber breach and that threat actors only go after large companies. This is an incorrect and costly assumption. Smaller organizations are experiencing more data breaches and incurring considerably higher data breach costs year after year. Smaller companies are rife for data breaches for a number of reasons. First of all, they are desirable targets. Cybercriminals know that weaker security measures will make small businesses more vulnerable to an attack than larger companies. Additionally, most small businesses will not have a sophisticated infrastructure lacking best practice protocols such as backups of data stored offsite or offline which may necessitate the payment of a ransom to obtain a decryption key. In comparison to larger, more-prepared companies that typically maintain backups, smaller companies are at a disadvantage and threat actors are taking full advantage. Smaller organizations are often not financially equipped to withstand a cyberattack and most do not have cyber insurance. According to the 2023 IBM Cost of a Data Breach report, organizations with fewer than 5,000 employees reported that the average impact of a data breach increased nearly 20% with an average cost of between $3.29 million to $4.87 million. If this is correct, a successful cyberattack could result in the closure of more than 50-percent of small businesses. We all know data breaches are costly and the costliest record types are customer and employee personal identifiable information (PII). In 2023, customer PII such as names and corresponding Social Security Numbers cost organizations $183 per instance, with employee PII following close behind at $181 per record. In the past three years, customer PII was the most breached record type, and 52% of all breaches involved some form of customer PII. Employee PII is the second-most compromised data type at 40% and continues to grow year on year. Since data breaches are becoming an “if”, not “when” occurrence, small to mid-sized businesses should take steps now to reduce the exposure and ultimate cost of a cyber incident. Understanding that smaller businesses might have less money to take preventive measures, here are some cost-effective best practices to implement: 1. Obtain Cyber Insurance Cyber insurance can cost as little as $30 per month and averages about $145 per month for small businesses according to Insureon. Costs can escalate quickly in the event of a cyberattack with everything ranging from interruption to the business, attorneys’ fees, forensics and recovery costs, to data mining and the expense associated with state-required data subject notification. These costs force many small businesses into bankruptcy, which could have been avoided with cyber insurance. 2. Password Hygiene Encourage employees to change their password each month and to not include easily guessed names or phrases. Instruct employees not to use their work email to sign up for non-work-related accounts, newsletters, and so forth. Additionally, train employees to not reuse passwords across personal and work-related accounts. 3. Employee Training on Phishing Awareness Teaching employees about phishing awareness (email phishing, spear phishing, smishing, and vishing – oh my!) is one of the most effective ways to protect any business from cyber threats. A phishing awareness training program helps employees understand the diverse types of phishing and its impact on businesses, as well as how to not fall prey to these tactics. 4. Classify and track your sensitive data Data mapping is the process of creating a visual representation of your data. It helps you understand the landscape of your organization’s information, including where it resides and where sensitive data is stored. Depending on the size of your organization, you may be able to conduct data mapping manually. This can be a time consuming and labor-intensive process. Consider using GenAI context-based scanning tool for an initial assessment of where pockets of sensitive data are stored and how many of those are duplicative. 5. Practice deletion Do not continue the habit of storing old organizational data because that is what the organization has always done. With the ever-increasing cyber incident liability risk and changing threat environment, sticking to status quo policies is no longer the way to go. There is much more risk associated data retention than ever before, so practice deletion. Small to mid-sized businesses are at a much higher risk of cyber incidents than they think, and the cost of such incidents can be devastating. It is important for these sized businesses to take preventive measures to reduce the cost impact of an inevitable cyber incident. Some cost-effective best practices include obtaining cyber insurance, instituting good password hygiene, training employees on phishing awareness, classifying and tracking sensitive data, and practicing deletion. By implementing these measures, small to mid-sized businesses can better protect themselves against the growing threat of cyber incidents and their costly consequences. Read Full Article »