Much has been said about the detrimental effects of the world economic slowdown on the IT industry. Since the attacks on the US of 11 September, the new social and political climate that has emerged has, if anything, entrenched the attitude of aversion to spending on support functions that governs most corporate budgets.
But where there are losers, there are usually winners, too. If the stock market is anything to go by, there are a few segments of the IT industry that have benefited from the recent turn of events. One major beneficiary is the market for video conferencing systems, and legal technology is certainly playing its part in the creation of this mini-boom within the larger recession. Shares of companies that specialise in video-conferencing have shot up by as much as 40% since September and demand for the technology has increased as many organisations – including law firms – have grounded their employees with a blanket ‘no-fly’ policy.
