Hype Cycle for Legal and Compliance Technologies, 2020
Published on July 20, 2020, by the research and analyst firm Gartner, the new Hype Cycle for Legal and Compliance Technologies, 2020 research (G00465146) is designed, according to Gartner, to help application leaders responsible for legal and compliance technologies anticipate and evaluate the impact of emerging legal technology and other business innovations. This information and insight may be useful for legal, business, and information technology professionals as they consider the positioning and potential for data and legal discovery technologies.
Authored by industry analyst Marko Sillanpaa, the Hype Cycle research is available for purchase from the Gartner website ($1,995.00). Complimentary copies and commentary of the research typically can also be viewed from the websites of vendors who routinely purchase rights to distribute Gartner reports or by industry publishers and commentators highlighting the research in their education efforts.
Considering the Hype Cycle Model
Introduced in 1995 by Gartner, Inc. the hype cycle model explains a generally applicable path a technology takes in terms of expectations or visibility of the value of the technology (y-axis) and time (x-axis). According to the Gartner Glossary, Gartner’s Hype Cycle is a graphical depiction of a common pattern that arises with each new technology or other innovation.
- Technology (Innovation) Trigger: A public announcement or demonstration triggers the cycle. Awareness about the technology starts to spread and attracts the first media coverage. Venture capitalists and adopting companies are aiming to capitalize on possible first-mover advantages.
- Peak of Inflated Expectations: This phase is characterized by high expectations boosted or hyped further by media coverage. Following a bandwagon effect, companies invest without having a clear strategy or sound business case.
- Trough of Disillusionment: The over-enthusiasm and hyped investments result in commercial adoptions that fail to meet performance and/or revenue expectations. Public disappointments spreads and are again hyped by media, this time negatively.
- Slope of Enlightenment: Some early adopters who continued working with the technology begin to experience net benefits and regain motivation. With more investments, the contextual understanding of the technology grows, resulting in increasing performance. The technology begins to be socialized.
- Plateau of Productivity: The technology is realistically valued. Following successful market place demonstrations, the adoption accelerates.
Graphical Depiction of Hype CycleGartner_Hype_Cycle-CCA-SA-3.0
Applying the Hype Cycle for Legal and Compliance Technologies
Per the publicly published table of contents of Hype Cycle for Legal and Compliance Technologies, 2020, key technologies and innovations represented in the recent (July 2020) research include:
On the Rise (Innovation Trigger)
- Subject Rights Requests
- Legal Chatbots
- Third-Party Risk Management
- AI in Corporate Legal Practice
- AI Governance
- Blockchain for Data Security
At the Peak (Peak of Inflated Expectations)
- Legal Spend Management
- Data Breach Response
- Consent and Preference Management
- Smart Contracts
- Digital Ethics
- Explainable AI
- Alternative Legal Service Providers
- Legal and Compliance Analytics
- Advanced Contract Analytics
- Prescriptive Analytics
- Privacy Impact Assessments
Sliding Into the Trough (Trough of Disillusionment)
- Integrated Risk Management
- Natural Language Query
- Data and Analytics Governance
- Digital Business Transformation
- Robotic Process Automation (RPA)
- Privacy Management Tools
Climbing the Slope (Plateau of Productivity)
- Corporate Legal Matter Management
- E-Discovery Software
- Contract Life Cycle Management
- Enterprise Legal Management
- Predictive Analytics
- Text Analytics
- Ethics and Compliance Management
About the Author of the 2020 Hype Cycle for Legal and Compliance Technologies
Marko Sillanpaa is a Research Director at Gartner. He works with both the Content Insights and Legal groups. In the legal arena, he has a strong knowledge of legal document management (LDM) and contract life cycle management (CLM). His primary focus is on the overlapping technology spaces of purpose-built LDMS or CLM solutions developed on content services platforms.
- The Short List: An Abridged eDiscovery Directory
- Avoiding Glittering Generalities in Selecting eDiscovery Software