BRINGING YOU THE LATEST IN LEGALTECH NEWS
TLTF & Friends in the News
🎉 FirmPilot AI appointed a friend of The LegalTech Fund, Jay Greenberg to its board, leveraging his growth and industry expertise for expansion - we love when our worlds converge!
🤓 Our portfolio company, Spellbook, released its new AI agent, Spellbook Associate to help draft and negotiate contracts with multi-step workflows.
We loved being at ILTACON. The on top? Oddr announced the releases of new products, 💵 OddrPay and 💵 CashPredict, continuing their innovation in the invoice-to-cash cycle for law firms.
🚀 The TLTF team is expanding! Check out our new roles here and feel free to share with friends! If you’re interested in working in the legaltech industry or for one of our portfolio companies, please fill out this form to stay on our radar.
News from the World of Law
At ILTACON, generative AI sparked excitement and speculation, likened to a shiny object creating widespread anticipation.
A survey from Thomson Reuters shows law firms are focusing on specialized support staff, with library & research and IT & tech FTEs both proportionally increasing.
ILTA's draft guide for active learning in e-discovery aims to standardize practices and reduce disputes over AI's use in legal cases.
AI is revolutionizing legal tech, with Harvey's $100M Series C, Clio's $900M Series F, and nearly 100% growth in new companies in the industry.
OpenAI avoided a copyright lawsuit over AI training data, but the case continues against Microsoft and GitHub regarding Copilot.
The European Commission blocked Meta's "pay or consent" model, citing concerns it pressured users and violated EU consumer laws.
The Ninth Circuit judges agreed that Google misled users about data collection practices, undermining user consent per EPIC's argument.
The FTC is investigating firms that use AI to set personalized prices based on consumer data, termed "surveillance pricing."
U.S. and European regulators aim to prevent AI monopolization, ensuring competition and avoiding past digital market failures.
OpenAI's global lawsuits for AI training IP infringements prompt businesses to address IP issues, guided by Norton Rose Fulbright's legal guide.
Google now offers a user-choice prompt for third-party cookies in Chrome, significantly impacting the digital advertising industry.
Regulators are investigating market concentration and cybersecurity risks after a global IT outage caused by a CrowdStrike software bug.
The ABA’s Formal Opinion 512 requires lawyers to understand generative AI’s capabilities and ensure competence and accuracy.
Meta will pay $1.4 billion to Texas over five years to settle a lawsuit for unauthorized biometric data collection.
The DOJ sued TikTok and ByteDance for violating children's privacy laws by allowing under-13s to create accounts and mismanaging data.
US Senators introduced the NO FAKES Act to protect against unauthorized AI-generated replicas of voices and likenesses.
Nvidia faces a class action for allegedly using millions of YouTube videos to train its AI, joining suits against Google and OpenAI.
Listen
Neil Chilson of Abundance Institute and Travis Wussow of JW discuss AI regulation complexities and the need for proactive U.S. leadership. (45 mins)
UK consultant Jack Shepherd discusses differences in European and US legal tech approaches, focusing on competence, AI trends, and collaboration. (44 mins)
Dennis Kennedy, Director at MSU's Law, Technology & Innovation Center, shares tech's role in enhancing client experience, efficiency, and CRM importance. (33 mins)
Tanner’s Other Page Turners
SpaceX’s ambitious ‘spacewalking’ mission is set to launch its five day mission this week.
Formula 1’s lawyers had a busy summer - sending cease and desist letters to F1 content creators, who may actually be helping market to the sport’s newfound audience.
Brands and retailers plan to replace barcodes with QR codes by 2027 for enhanced engagement and digital integration.
As Generation X nears 60 with a median of $250,000 in savings, 44% think a secure retirement will require a “miracle.”
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