Mr. Katz noted that these zeroes "appear to be piling up" as private equity firms and third-party litigation funding groups have come to increasingly view lawsuits as a revenue stream.
National Managing Partner Greg Katz was recently quoted in an Insurance Journal article about how plaintiff's lawyers are harnessing big data and artificial intelligence to attempt to drive up jury awards and settlement demands.
The article, titled "The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In," points out that a growing number of personal injury and claims law firms, some of which are working with an influx of cash from investors and litigation funders, are using a multitude of high-tech tools to try to gain an advantage in litigation. They are using large online mock juries to test legal theories, big data to find sympathetic jurors and venues in which to try cases, and AI programs to analyze their own arguments and those of opponents.
“They’re taking instincts and intuition out of the equation,” Mr. Katz told Insurance Journal. “They think they’ve come up with a different way to ring the bell and, in their words, add zeroes to awards.”