Tuesday, May 22, 2018

Number of AI companies catering to legal field grows 65% from last year

Bob Ambrogi's Law Sites blog has the story noting that established players like TR (i.e., Westlaw) and Lexis have either jumped into the AI game or will be rolling out new products shortly. It raises the question - at what point do we start exposing students to AI training in law school? More from Law Sites:

Number of AI Companies in Legal Grows 65% In Last Year


The number of artificial intelligence companies catering to the legal field has grown by 65 percent in the last year, from 40 to 66.


This finding is from the In-House Counsel’s LegalTech Buyer’s Guide 2018, published today by the contract review automation company LawGeex.


The increase in AI companies includes a number of “agile and well-funded startups,” says the guide, but also a number of established players that are joining the field, such as LexisNexis with its Lexis Answers and Bloomberg Law with its Points of Law.

. . . . 


My instinct is to be highly skeptical of a purported buyers’ guide that is written and published by a company that competes within that market. But this guide actually appears to be entirely neutral, giving LawGeex no greater billing than any other listed company. The entries for all the listed companies appear fair and many include comments from actual users.

 . . . . 


[But the] listing of AI companies is not complete. Most notably, it omits Thomson Reuters, whose Westlaw, with its natural-language processing, was one of the earliest AI products in legal. Thomson Reuters Labs and, within it, the Center for Cognitive Computing, are major initiatives devoted to the study of AI and data science. Just in January, TR rolled out an AI-powered product for data privacy law.


In addition, there are a number of small legal tech startups that are using AI but that are not included on this list.

. . . .

 Continue reading here.



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