On February 10, 2020, the US Justice Department announced charges against four members of China’s military on suspicion of hacking into Equifax. Charges against members of the Chinese military are rare, but in this case an exception was made for state-sponsored actors who stole the personal data of approximately 145 million Americans.
This breach, in combination with a series of other breaches, has serious implications. Collectively, this data could be used to target American intelligence officers or other officials and interfere with elections. In addition, used in conjunction with artificial intelligence technology, this may allow China to advance its ability to conduct cyber espionage.
Although there is no evidence yet that the Chinese government has used the data from the Equifax hacking, Christopher Wray, the director of the FBI, commented that China has “pioneered an expansive approach to stealing innovation”. Hopefully these charges will be a powerful deterrent to this type of theft in the future.
MT>3 has returned from two days in New York at Legalweek. This year brought great weather, many vendor presentations, and a surprisingly loud drumming band. MT>3 had some fascinating meetings and we return energized from our discussions and hearing about the latest efforts to solve today’s legal problems using technology.
Some highlights to watch for in the coming year include:
1. Cross Matter Tools
Multiple companies are exploring new ways to help you leverage your existing knowledge for use in future cases. AI models are being developed to analyze results from past cases and applying those to similar cases that arise in the future. There are many potential applications for this technology, including:
Discovery has evolved rapidly beyond e-mails, PDFs, and Office documents. Companies now work with multiple chat platforms, CRM tools, IoT data, audio/video and new data sources that are developing each day. The legal tech world is coming up with solutions to help capture, process, and effectively work with this data in litigation.
3. Contract Management
Many startups have emerged to assist with contract management and review. These companies look to reduce costs and financial risk both pre- and post-closing by:
MT>3 and McCarthy Tétrault LLP are leaders in innovation. By leveraging new technology, the result is increased efficiency for its lawyers and an enhanced client experience. Closing Folders is just one example of the M&A Tools that McCarthy Tétrault LLP and MT>3 use to facilitate the Deal Process. Read more here.