Allen & Overy has signed an agreement for the use of Eigen Technologies’ natural language processing tech. A&O is the second magic circle firm to have confirmed its adoption of Eigen’s NLP product after Linklaters became its first client in 2015.
Few details about A&O’s plans for the technology are currently available, but Linklaters joined forces with Eigen to launch what we described at the time as a homegrown AI-backed data analysis and extraction tool called Nakhoda.
Eigen also signed LOD (Lawyers On Demand) earlier this year, as part of a new LOD client offering called Designed Solutions. The company is believed to be working with other law firms on a confidential basis. Clients outside the legal space include Goldman Sachs, Hiscox and ING.
Founded in 2014, Eigen Technologies is a machine learning company based in London and New York. Its product represents a maturing of extraction and classification software in that it can be used across multiple contract types from front to back office. The company has raised £13m in funding, to date, from Goldman Sachs and Temasek.
Eigen and A&O have completed a pilot and are now exploring a range of ways in which the technology can be deployed.
“A&O is well known for its innovative thinking in the application of legal technology and their team has a wealth of knowledge in this area,” Adam Eastell, chief legal and strategy officer at Eigen Technologies said. “We are looking forward to working with A&O to explore how our technology can be applied across a range of practice areas.”
More information of A&O’s plans for Eigen’s technology to follow.
By Amy Carroll