There is no shortage of start-ups willing to put down money and bet on the future of AI in legal contract review. One commonality? They all seemingly claim to be the leading, or best, platform in AI.
Here’s a selection:
While Legal Robot, based in San Francisco, hopes to put bad lawyers out of business, they do state that legal language can be difficult for mere mortals to read and understand. Their sense of humour aside, their contract analytics product uses AI and legal ontologies to build the conditional reasoning structures and probabilistic properties they needed to capture the complexity of contract language. They state that they assist in finding problems with legal documents and allow a company to securely collaborate with their legal team.
Law Geex, based in New York City and Tel Aviv, is an AI engine that analyzes contracts according to a company’s pre-defined legal policies. Contracts that don’t align with these policies are then selected for guided editing and approval and can be edited directly within Law Geex. It is primarily aimed at corporations that seek to do their contract review in-house.
Luminance, based in the UK, Chicago and Singapore, has been developed using “breakthroughs in machine learning arising from the University of Cambridge.” Proprietary machine learning algorithms “sort, cluster and classify thousands of contracts,” detecting anomalies, missing pages or clauses, and additional and unusually worded clauses. Interestingly, it is language-agnostic. It displays results in a visual dashboard identifying languages, currencies, locations, governing laws and more. Learning from every project and contract it encounters, it tags key clauses and more.
Diligen is based in Toronto. It combines contract review and project management in one platform. You add your team to the extranet, upload your documents and start seeing key provisions automatically. From there, you can assign a reviewer and track their progress and generate contract summaries. Diligen’s machine learning has been mentioned in the Canadian Corporate Counsel Association magazine.
© 2018 David J. Bilinsky