However, These Same Departments Are Taking Steps To Assimilate More Services In-House, Including Increased Expenses On Artificial Intelligence Technology.
HBR Consulting provides various surveys, including several with corporate law departments, comprised of 250 organizations participating across 22 industries (with 65% of the survey participants being in Fortune 500 companies). We can now report on the highlights of their 2018 HBR Consulting Law Department Survey:
- Corporate law departments’ total legal spending increased by 5% from 2017;
- 61% of the survey participants indicated an increase in outside counsel hourly rates; and
- Corporate law departments were shifting investment into in-house resources, with some upward emphasis on implementation of artificial intelligence technology.