Artificial intelligence has found its way into the legal industry. Legal work can be exhausting as it involves combing through piles of information to find precedence. AI can make this work easy, as it can crunch data in minutes to find the relevant reference.
AI-based software can assist in legal work by performing due diligence in analysing information and predicting outcomes. AI can be leveraged for document automation and help save a lot of time. With lesser human intervention, the costs involved in legal procedures would also come down.
The legal field has become more open to technology in recent times. Below, we have curated a list of 8 AI-based tools for legal professionals.
Kira is a patented technology designed for document extraction from case files and records while maintaining due diligence. It extracts and identifies clauses from contracts which helps in contract review and due diligence. Kira can also create powerful summaries of documents and is suitable for extensive use by corporate legal, consulting firms, audit departments, financial services, real estate, etc.
Founded by University of Cambridge mathematicians, Luminance is a document review software that also maintains its client’s legal databases. It expedites reviews and highlights the key clauses and anomalies in the contract. It identifies and alerts the user of words in the document that could create potential future conflict and suggests alternatives. Luminance makes due diligence easier and faster.
ROSS allows question-based research and offer a document analyser. The software looks for overturned and critical treatments in the documents during the review process. It presents a summary of the case while alerting the lawyer of any relevant cases and equips them with pertinent information culled from related cases & arguments.
Lex Machina is an analytical software to craft strategies with legal analysis of cases. It analyses the behaviour and case record of judges, opposing counsel, and parties to predict behaviour and customise strategy. It also makes a customizable case list analyser for reference to related cases. Lex Machina offers Motion metric report feature to predict the chances of a motion to be granted or denied.
LawGeex offers contract review automation. Information about guidelines is fed to the program that reviews contracts like a human lawyer. It makes suggestions in contracts as well as identifies missing clauses. It can speed up the contract review process by three times, saving time and energy for other crucial and high-skill tasks.
Everlaw is a cloud-based e-discovery platform for end-to-end support. It helps in setting narratives, analysing testimony, and organising arguments. The program can translate documents from and in 109 languages. Everlaw feature Story builder offers a narrative building and trial preparation platform.
Hyperlex is a contract managing and monitoring software. It assists in all phases from creation to negotiations. It helps in negotiations by drawing comparisons to arrive at the best offer. Hyperlex speeds up the long & tedious process by digitising the contract validation. It also sets up reminders for deadlines on expiration dates. The software analyses every clause and language of a contract to avert any potential future conflict.
Evisort accelerates the contract creation and management process by using natural language processing. It uses advanced AI to automate data search. It also extracts data from contracts to ease data collection. Evisort improves accountability in workflow by keeping track of renewal and approval of contracts. The software comes with a powerful text search and auto alert of key dates to prevent unwanted costs or missed opportunities.
Join Our Telegram Group. Be part of an engaging online community. Join Here.
Subscribe to our NewsletterGet the latest updates and relevant offers by sharing your email.
I am a journalism undergrad who loves playing basketball and writing about finance and technology. I believe in the power of words.