The threat of data breaches continues to grow, but only about 25% of firms have incident response plans in place — Is your firm prepared? In this episode of Digital Detectives, hosts Sharon Nelson and John Simek talk to David Ries about the need for law firms to develop a quick and logical way to respond to a data breach. They explain the steps in creating an incident response plan and how to rehearse its execution. In the event of a breach, firms can use their plan to quickly eradicate threats and take corrective action. Hackers’ tactics are constantly evolving, but there are many resources to help lawyers keep pace with the threat.
Excerpt: Back in 2015, we wrote an article entitled “How Will Watson’s Children Impact the Future of Law Practice?” What a lot has happened in two years! The children of Watson and other Artificial Intelligence (AI) technologies continue to spawn at an ever-accelerating rate.
Only recently has genuine real-world usage of AI in law firms begun to flourish. Amid the initial hype, about 5% of what was ballyhooed as AI, in our judgment, was not. Even today, there is an astonishing amount of hype – everyone wants to say they’ve boarded the AI train. As we write, an article from InfoWorld was just published entitled, “Artificially Inflated: It’s Time to call BS on AI.” While great ‘clickbait’, we think the title overstates the case. The peaks and troughs of AI are well documented, and as we are now at a peak, the hype factor gets greater, while the reality (often very good) is lost in the noise of the hype.
As large firms, which certainly need to be at the forefront of innovation, begin to invest considerable sums in AI, the landscape is changing. Large law firms simply cannot afford – for monetary and brand reasons – to be left behind. Clients will begin to see the efficiencies of AI and its extraordinary possibilities wherever AI may be found. AI will be a honeypot to clients seeking those efficiencies and possibilities.
A brief note: An article of this length cannot adequately address all the players in the legal AI market and what they can do. We call out a few names simply because we’ve run into these companies through colleagues or our reading.
Recently, Sensei’s John Simek was featured in “Alternatives to Email Give Law Clients Secure Communication Options” by Sean La Roque-Doherty of the ABA Journal. The ABA Journal is read by half of the nation’s 1 million lawyers every month. It covers the trends, people and finances of the legal profession from Wall Street to Main Street to Pennsylvania Avenue.
Excerpt: Security professionals have long known about the issues with PGP, says John Simek, vice president of Sensei Enterprises, a digital forensics and information security company. “The real problem is with the way that PGP and S/MIME interact with email programs and the difficulty to properly configure and utilize PGP,” Simek says.
Excerpt: Bitcoins are digital currency – and yes, lawyers are beginning to accept them from clients. They are also known as virtual currency or cryptocurrency since cryptography is used to control the creation and transfer of bitcoins. They use peer-to-peer technology with no central authority or banks. The issuance of bitcoins and the managing of transactions are carried out collectively by the network.
Cryptocurrencies are created by a process called mining – by becoming a miner of cryptocurrencies, you make money (not much unless you are a major league miner). We won’t go into all of the technology that is used to create and verify the transactions since it will probably make your head hurt. Mining is accomplished by executing complicated mathematic operations that take a lot of processing power. Hence the new phenomenon of cryptojacking in which miners hijack the computing resources of unknowing victims so they can mine cryptocurrencies. And yes, your network could be victimized and there is little chance you would know unless so much power is used that your network slows down!
Today there are a lot of different cryptocurrencies. Bitcoin is still one of the most well-known and popular. However, other cryptocurrencies such as Ethereum, Bitcoin Cash, Monero, Litecoin, Ripple, Dash, and others are gaining in popularity. They promise to scale better than Bitcoin and to provide stronger anonymous protections. As of April 26, 2018, the amazing number of different cryptocurrencies is 1,759 according to investing.com’s current list located at https://www.investing.com/crypto/currencies. With all the various “flavors” of digital currencies, we’re sure you’ll find one to your liking.