CMS is assisting Cognitiv+, an artificial intelligence (AI) platform that automates knowledge extraction from legal data, on the development of their Financial Agreement risk analysis module under the InnovateUK Open Programme.
Founded in 2015, Cognitiv+ provides legal and regulatory analytics to corporates, consultancies and legal firms enabling them to understand and act upon contractual and regulatory obligations using artificial intelligence.
By automating long and repetitive tasks, Cognitiv+ enables the users to remove constraints while ensuring all possible risks are carefully reviewed. Cognitiv+ provides them with benefits such as being able to focus on high added value solutions, time and cost efficiency.
Commenting on the project, Vasilis Tsolis, CEO of Cognitiv+ says: In this project we will revolutionise the way people understand and manage their contractual and regulatory obligations that are buried in financial agreements. It is very exciting to work with CMS, as they are the global leaders in M&A transactions, giving us true insights in the market.
CMS partner Charles Kerrigan adds: “We’ve a long history in the technology sector and it’s important that we’re participating and contributing as well as advising where we can. There are lots of great software products in the legal tech market; few use true AI but Cognitiv+ is one of those that do.”
CMS now boasts the largest technology practice in Europe and is proud to be at the forefront of the market in its advice to AI start-ups. Most recently, the team advised the founders of AI expert RAVN Systems on its sale to iManage. RAVN was a member of CMS’ highly successful equIP programme, designed to give UK scale-ups and entrepreneurs the tools they need to grow and succeed by providing legal advice and support to help accelerate their growth potential.