WEST PALM BEACH, Fla., Aug. 7, 2012 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced that its FTI Technology practice has published the results of a predictive coding study of 24 in-house and law firm counsel. The complementary report, Advice from Counsel: Can Predictive Coding Deliver on Its Promise?, provides the perspective of leading corporations and law firms on high-profile court rulings, cost savings estimates, adoption inhibitors, and a wide range of other predictive coding benefits and concerns. FTI Technology also will host a three-part webcast series, featuring leading e-discovery experts, to discuss the practical implications and application of predictive coding technologies.
"The study illustrates where the legal industry is today with adoption of predictive coding technologies," said Joe Looby, co-author of the report and a Senior Managing Director in the FTI Technology practice. "Clearly, attorneys are excited about the potential to save time and money but are taking measured steps to ensure that the technologies are used in an effective and defensible manner."
While half the respondents reported use of predictive coding technologies, most of the usage is in small, pilot or "trial" projects. Other findings detailed in the report include:
- When asked to rank the reasons for using predictive coding, "replace costly human review with machine review" was not one of the top four reasons given by respondents. The respondents' top four ranked reasons for using predictive coding were:
- To prioritize documents for review: Respondents could put important documents at the front of the review queue.
- To eliminate irrelevant documents: Reviewers could focus on important materials while irrelevant materials were culled out.
- To test or validate human coding decisions: As a quality assurance (QA) method, predictive coding could act as another check to ensure correct coding decisions.
- To find more responsive documents: Legal teams could use predictive coding to supplement keyword searches and discover additional relevant materials.
- The respondents also ranked the following top four reasons for not using predictive coding technologies:
- It is a "black box" technology: Respondents expressed concern about understanding and explaining in court "what goes on underneath the hood" with predictive coding software.
- It is not well-suited for "needle in the haystack" investigations: In certain investigative matters, predictive coding may not be able to find all the "hot" documents.
- Fear of inadvertent production: There is concern that production of predicted coded documents without review or confirmation could lead to privilege waiver.
- Respondents do not want to be early adopters: Respondents are conducting pilot projects, selecting specific matters and talking with industry experts to learn more.
- Aug. 21: What Does Counsel Really Think about Predictive Coding? Panelists discuss the results of a recent study about the use and adoption of predictive coding technologies by Fortune 1000 companies and their law firms.
- Oct. 2: Predictive Coding and the Meet and Confer: What Every Attorney Should Know E-discovery experts discuss practical tips to help prepare for meet and confer discussions about predictive coding and other machine-learning technologies.
- Oct. 24: Predictive Discovery: Taking Predictive Coding Out of the "Black Box" The final webcast in the series helps attorneys better understand how to measure, test and defend predictive coding results.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV