The current legal tech market is defined by cloud skepticism, security and compliance concerns, and growing interest in AI technology, according to the “2016 ILTA/InsideLegal Technology Purchasing Survey” of 175 ILTA member law firms.
Slightly more than half (53 percent) of firms increased their technology budgets in 2016, representing a 12 percent rise compared with 2015. Over one-third (38 percent) of respondents noted their budget stayed the same over the year, while 9 percent said they decreased their tech spend in 2016.
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