Next generation legal AI and machine learning research makes legal technology company's end-to-end solution even better
LONDON, Nov. 12, 2019 /PRNewswire/ -- InCloudCounsel, a legal technology company with a scalable, end-to-end solution that frees companies from routine legal work, has announced two new software automation enhancements powered by proprietary research in AI and machine learning. These advancements assist the expert freelance lawyers negotiating agreements on InCloudCounsel's platform to work more efficiently and produce higher quality work. The news demonstrates InCloudCounsel's ongoing commitment to applying cutting-edge technology to help transform the delivery of legal services.
Both enhancements are powered by new-to-market AI and machine learning models developed from proprietary research, but occur at different points in the document negotiation and management process in InCloudCounsel's end-to-end solution. The first enhancement, applied to the negotiation stage, brings automated initial contract review to the InCloudCounsel platform. When an original contract from a counterparty is first loaded onto the platform, the system automatically scans and flags clauses that are in conflict with a customer's negotiation requirements to the lawyer negotiating the agreement.
The second enhancement occurs after a negotiation has been completed, when InCloudCounsel's end-to-end solution creates an abstract summary of key terms in the agreement. When the lawyers on InCloudCounsel's platform create an abstract, the platform automatically scans the finalised agreement and identifies the key terms for some of the most common clauses. Both enhancements make the technology platform, already regarded as the most technologically advanced of its kind, even better.
Research and development for the AI and machine learning models behind the software advancements was led by Hadayat Seddiqi, director of machine learning at InCloudCounsel. Prior to InCloudCounsel, Hadayat worked on space exploration robots at NASA, published papers in quantum computing at the United States Department of Energy, and engineered DNA sequencing software at a biotech startup.
"Our innovation on multiple fronts as a business is driven by our passion for developing new technology to address problems that have never been solved. Our artificial intelligence models bring valuable tools to a field that historically has been very difficult to build similar solutions for," said Seddiqi. "Our models are understanding increasingly complex abstract language and concepts – allowing our proprietary AI to automate a growing number of narrow tasks and achieve a level of performance that has never before been possible."
The latest wave of tech-enabled solutions offers proven ways for companies to enact transformative change in their legal function that is capable of driving competitive advantage. These solutions are already being used by some of the world's leading enterprises to streamline processes, free up resources, and lower legal costs.
It's not just InCloudCounsel's customers who benefit from these software enhancements. The expert, specialist lawyers in InCloudCounsel's freelance network have a remote, flexible work arrangement that allows them to build a practice that best fits their lives. The new AI-backed functionality to InCloudCounsel's platform helps the lawyers in its network operate more efficiently and accurately, allowing them to deliver even higher quality work in less time, which frees up additional time for their other passions in life.
"Enabling a higher degree of accuracy and efficiency in our solution is a win-win for both our global customers and the freelance lawyers in our network," said Lane Lillquist, co-founder and CTO of InCloudCounsel. "These enhancements to our solution give both groups a competitive advantage in the marketplace, as pairing expert humans with powerful AI-backed technology can accomplish more than either people or machines are able to achieve on their own."
To learn more about InCloudCounsel's leading global solution for negotiating and managing recurring legal work, visit www.incloudcounsel.com/.
InCloudCounsel is a legal technology company that automates and enhances high-volume legal processes for large enterprises. InCloudCounsel's global, end-to-end solution combines expert legal talent with best-in-class technology, and has helped some of the world's leading companies effectively free up resources, improve quality of output, and achieve substantial cost savings.
InCloudCounsel also helps highly experienced lawyers achieve the freedom to practice law without the geographic or time constraints of traditional law firm employment, giving them the opportunity to pursue other passions in life, from starting a business to traveling the world to starting a family.
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