Travers Smith embarks on AI due diligence trial


By Kathryn Higgins

23 September 2016 at 09:42 BST


Travers Smith is the latest firm to strike up a partnership with artificial intelligence technology company RAVN Systems.

VOLODYMYR GRINKO

The firm’s corporate department has begun trialing the use of artificially intelligent due diligence software developed by RAVN Systems, adding yet another name to the growing list of law firms turning to technological automation to grow their efficiency and cut costs. UK-based RAVN is one of the leading players in the emerging market for legal AI tools, having already struck similar deals with Berwin Leighton Paisner, Linklaters and Reed Smith, among others. RAVN’s cognitive engine is able to support law firms with a wide variety of tasks, including e-discovery, large-scale data searches and contract governance. The tech group is also collaborating with Dentons’ Palo Alto-based NextLaw Labs to develop a cognitive search engine capable of conducting Brexit-related contract reviews.

Playing field takes shape

RAVN is may be an emerging heavyweight in the fledgling market for legal AI technology, but it’s not without competitors. Earlier this month, top-tier firm Slaughter and May announced its own partnership with AI tech start-up Luminance, while Clifford Chance and DLA Piper have already penned their own deals with rival provider Kira Systems.

Sources: Legal Week; Law.com

 
   
 
 
 

Also read...

BVI launches innovative new partnership legislation

The British Virgin Islands has created a new partnership regime targeted at investment funds.