2023 will undoubtedly be an interesting year for litigation. As we are further removed from the pandemic and technology continues to advance, the trends that emerge now will impact the industry for years to come.
Data breaches and cyber security hacks have been on the rise in the US, with reported cybercrimes up 300% since the start of the COVID-19 pandemic in 2020. Experts estimate ransomware damage costs will rise to $20 billion in 2021. The influx of businesses falling victim to data security breaches and IT attacks is resulting in increased litigation.