Public Event Detail
In-house legaltech budgets to double worldwide by 2028 amid AI boom, Gartner predicts
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Event summary
Gartner predicts that global companies will double their legal technology budgets by 2028, driven by the increasing productivity and efficiency gains from AI-powered legal software. The research firm highlights that AI applications, particularly AI agents, are reducing reliance on external counsel, improving regulatory compliance, and automating tasks like contract drafting and legal research. This shift is also expected to lead to job cuts in legal departments and increased competition for traditional law firms from "native AI" firms.