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Extract from article by Gabe Friedman

In the Rand Institute’s oft-cited 2012 report “Where Does the Money Go,” the authors bet that of all possible solutions, predictive coding technology would be most likely to reduce the high cost of large e-Discovery projcts.

“We believe that one way to achieve substantial savings in producing massive amounts of electronic information would be to let computers do the heavy lifting for review,” the report concludes, adding with some caveats, “the savings are … likely to be considerable and meet the goal we set of a three-quarter reduction in review expenditures.”

At the time, predictive coding could still be considered “nascent” technology, and it cited one study that found the technology cut attorney review hours by 80 percent. But roughly fours years later, judge s routinely greenlight predictive coding, and yet the e-Discovery services market continues to balloon: Recent estimates predict the services market will hit between nearly $14 billion and $21 billion in the next half-decade, up from an estimated $8 billion today. That’s in contrast to an estimated $2 billion software market.

The services market could be growing — even if technology is reducing costs of e-Discovery review — because data volumes are growing or for other reasons. But the continued interest of private equity in the services side of the e-Discovery market suggests their analysis shows it continuing to be profitable for some time, and that predictive coding and other technology-assisted review will not cut deeply into the services’ market.

 

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