Time: 12.00pm – 01.00pm EST
With the amount of data held in the enterprise growing exponentially, the challenge of finding relevant information is growing proportionally. Staff have difficulty tracking down valuable and hard-won experience and credentials, but when obliged to locate information for compliance or to support due diligence activities, the problem is amplified.
RAVN’s Cognitive Computing technology, RAVN Applied Cognitive Engine (ACE), provides the next leap in information search and retrieval. It mirrors human expertise by understanding corporate unstructured data, such as, documents, emails, social media, etc. and uses a wide variety of machine learning tools to automate the process of extracting and distilling key information from within the objects. Interpreting this information, as a human would do, is taking the first steps on the Artificial Intelligence ladder.
How can this technology benefit the Law firm?
Whilst AI technology can be focused inwardly at the law firm, perhaps the greatest opportunity comes from directing it externally to assist in the handling of client matters or in opening up new business services.
Increase efficiency and competitive advantage – Much of the effort in a given client matter can be down to the manual task of reviewing large sets of documents or contracts and extracting the key information. It is only then that the salient points can be interpreted to provide the requested advice for the client. What if you could fast-track the review process and automate the information extraction, or at the very least produce contract summaries of key provisions in easy to review format? RAVN ACE allows just that, resulting in faster turn-around for the client, freeing up capacity for fee-earners and critically, enabling firms to improve their margins.
Mitigate risk – Learn also how RAVN ACE technology can be applied to governance applications, automating the process of policing, for example, that contract terms and conditions comply with acceptable business or risk criteria. This might be as part of a client due diligence exercise or perhaps built into new, competitive legal service offerings.