How Artificial Intelligence Is Transforming the Legal Profession
Artificial intelligence is evolving the nature of lawyering. Legal analyst Julie Sobowale explains how in this cover story for the American Bar Association. Here’s Sobowale’s take on AI in law:
Artificial intelligence is changing the way lawyers think, the way they do business and the way they interact with clients…It is the next great hope that will revolutionize the legal profession.
Sobowale notes some standout companies harnessing AI in ways that will transform the legal profession for the better, among them ROSS, NexLP, Riverview Law, and eBrevia. “What makes eBrevia different,” says Sobowale, “is the program’s ability to learn how to do searches [within contracts] more efficiently.”
eBrevia COO Adam Nguyen explains how lawyers can benefit from using AI tools:
Technology that automates tedious tasks, while not a panacea, can free up lawyers’ time to perform higher-level, more intellectually satisfying work which clients would be willing to pay for…It’s clear we need a solution that increases lawyers’ productivity while helping to deliver legal services at the level expected by clients.
With the AI revolution on the horizon, in Sobowale’s words, “maybe it’s not so scary after all.”
Forging New Identities in the Legal Profession: Ned Gannon in The Practice
In a world where new technology and an anything’s possible ‘Silicon Valley’ mentality are pushing the boundaries of even the more traditional professions, career possibilities for lawyers are growing. In this issue of The Practice from the Harvard Law School Center on the Legal Profession, eBrevia CEO Ned Gannon is exemplified as one lawyer following the path less traveled. Ned says:
When I graduated from law school, I ended up practicing corporate law…I got to witness some really great entrepreneurs build up these companies…That drew me into the business side, and I always thought to myself, “Hey, wouldn’t it be great to sit on that side of the table at some point?”
As for his professional identity being a lawyer-turned-entrepreneur, Ned comments:
I consider myself a part of the legal profession. And I like to think that, as the legal profession is changing, we’re on the forefront in terms of helping attorneys to adapt to some of these changes.
If you have an subscription with The Practice, you can read the full article “Drawing Your Own Path: Forging New Identities in the Profession” here.
eBrevia COO Speaks on ABA Techshow Panels
Document collaboration can be difficult and confusing without the right tools and processes. This Friday, eBrevia’s COO Adam Nguyen discusses a few practical, time-saving ways for lawyers to collaborate on documents in the panel discussion Realtime Collaboration Isn’t Just for Conference Rooms Anymore at the annual ABA TechShow in Chicago. Joining Adam is attorney Jon Tobin of Counsel for Creatives. The session is part of the Tech Beyond Walls track and takes place Friday, March 18 at 9:00 am.
Later on, Adam will speak in a second panel with Fastcase CEO Ed Walters on how law firms can start using data and analytics for strategic advantage. The panel, Data is the New Oil – Lessons from Standard Oil, Smart Diapers, and Uber for Law Firms, is part of the Tech Fundamentals track and begins at 3:45 pm.
If you’re going to the ABA Techshow, we’d love to see you there!
UPDATE: Topics discussed during Adam’s Data is the New Oil panel were sketched out live before the audience. See the before and after below. We think it’s pretty cool!
The LegalTech Revolution: How Innovation is Transforming Legal Services
If you go to AngelList today, you’ll find over 1,000 LegalTech companies, compared to a mere 15 in 2009. This Wednesday, Sue Banerjee of eBrevia joins other legal technology experts in explaining how and why the industry has grown so dramatically in what seems like no time. The panel will discuss the biggest LegalTech trends, the economics of LegalTech valuations, and the the key performance indicators (KPIs) legal organizations should look at when implementing these innovative technologies.
If you’re an in-house lawyer, outside counsel, or licensing professional interacting with your legal department, please join us for what will undoubtedly be an interesting discussion! Hosted by the Licensing Executives Society (LES), the event takes place Wednesday, March 16 in Palo Alto and qualifies for MCLE credit.
Evolve Law Podcast Interviews eBrevia CEO Ned Gannon
eBrevia CEO Ned Gannon answers all your questions on eBrevia’s contract review platform — how it began, who the software is helping the most, and why machine learning is an essential component — in this new Evolve Law podcast. Metrics on the benefits eBrevia brings to lawyers practicing contract review are also discussed in the episode.
Evolve Law is a community for legal innovators, hosting events and content that spark ingenuity in the legal industry. You can subscribe to their podcast on iTunes or wherever you get your podcasts to get regular updates on the newest legal trends, innovations, and ideas. To find out more about Evolve Law or to become a member, go to evolvelawnow.com.
eBrevia’s Adam Nguyen to Present at IBA Summit
How will technology impact the practice of law in two, five, ten years from now? On Friday, February 26, eBrevia Co-Founder Adam Nguyen will speak alongside Bridgewater Deputy General Counsel Sylvia Khatcherian and LexisNexis Vice President Lynn Reynolds on the changes we should expect not only in the practice of law, but also in client’s business models.
Hosted by Debevoise & Plimpton, the panel discussion is part of the International Bar Association’s Women’s Leadership Summit in New York City, February 25 – 26, 2016. The two-day event is set to cover a range of topics, from meeting client expectations to where legal technology is headed.
eBrevia CEO Named Legal Tech Entrepreneur to Watch
From risk assessment, to corporate management, to document analytics, the legal industry is seeing an array of innovative tools being developed for its unique needs. Enterprise software site Capterra has identified five entrepreneurs unafraid to challenge the status quo, with eBrevia CEO Ned Gannon among them. Check out the full list to see some of the ways entrepreneurs are bringing speed and automation to law and get the inside scoop on eBrevia’s founding story.
eBrevia in FirstMark Capital’s Big Data Landscape
Venture capital firm FirstMark Capital has come out with the fourth annual Big Data Landscape, with eBrevia among big data innovators such as Google, Cloudera, and MongoDB on the map. The landscape’s creator Matt Turck demystifies the big data ecosystem and the role of artificial intelligence in this post: Is Big Data Still a Thing? (The answer: you bet.)
Find eBrevia and other companies using big data to transform the legal industry under Applications – Legal.
Ned Gannon Presents at the ABA’s 2016 M&A Committee
In coordination with event sponsor RR Donnelley, Ned Gannon, eBrevia’s CEO, presented The Latest Techniques and Tools to Streamline Due Diligence at the American Bar Association’s 2016 M&A Committee Conference in Laguna Beach, CA. The talk covered how artificial intelligence is being applied on the transactional side of the legal industry and focused on contract analytics specifically. The presentation was well received by the 150 corporate attorneys in the audience and a lively Q&A session followed.
RR Donnelley Streamlines Due Diligence With eBreviaFor legal professionals using RR Donnelley’s Venue virtual data room, contract review just got a whole lot easier. eBrevia has partnered with RR Donnelley to introduce Venue contract analytics, an integrated virtual data room and contract analytics solution that allows Venue users to seamlessly expedite due diligence with artificial intelligence powered by eBrevia.
One of the most widely used virtual data rooms by legal professionals, Venue is in a position to significantly improve how legal due diligence is done today. Legal professionals reviewing contracts for mergers, acquisitions, and financings now can have complete confidence in knowing they’re performing the most accurate, fast, and secure contract review possible.
“The Venue virtual data room is one that financial and legal professionals know and trust, so we are very excited to support Venue virtual data room users with our cutting-edge contract analytics capabilities,” said eBrevia CEO Ned Gannon.
Evolve Law Launches Community to Advance Legal Tech Adoption
As a founding member of Evolve Law, eBrevia is proud to be a part of the advancement of innovation in the legal industry. Legaltech News covers how the newest legal tech community plans to mobilize an antiquated industry.
Cofounder Jules Miller explains the rationale behind the Evolve Law movement: “By raising awareness of developing technologies, products and services, we can help the legal industry become more agile and move faster to keep up with business needs, other industries and most importantly, client demands.”
eBrevia CTO Among Top Professionals 35 & Under Impacting Legal
Smart, talented, transforming the world, and all 35 and under, LinkedIn’s Next Wave identifies today’s top young influencers in industries from enterprise technology to healthcare. In the legal industry, eBrevia CTO Jacob Mundt was named one of the top 10 individuals changing legal for the better.
“While legalese can seem unreadable to the non-lawyer,” he tells LinkedIn, “it is actually quite formalized and structured, which makes this a great fit for natural language research.” But the Columbia grad isn’t looking to take away legal jobs; he says lawyers will still be around in 20 years — just doing more important work.
Together, the brightest minds in legal technology and design are making legal work not only more effective, but more enjoyable, too. See the full list of Next Wave legal innovators here.
The Future of AI and White Collar Automation for Legal Services
“Smart software is going to infiltrate the workplace in heretofore unexpected places.” In this article for Legaltech News, John Waters covers the advent of artificial intelligence and a number of its implications for the legal industry.
“The good news for law firms is that software is already beginning to take on many of the routine and predictable tasks of the profession,” says phenomenon author and futurist Martin Ford. According to Ford, “machine learning is poised to impact the legal sector.” Ford explains machine learning technology, and how eBrevia is using it to reinvent contract review:
“Machine learning” refers to software that can learn from data and act without being programmed—think email spam filters that learn to recognize junk or self-driving cars. One vendor developing solutions in this area is venture-backed startup eBrevia. The Stamford, CT-based company leverages AI research from Columbia University to develop solutions that employ machine learning technology to automate such processes as due diligence, contract management, lease abstraction, and document drafting.
As artificial intelligence solutions continue to be developed, it’s likely that law firms will increasingly leverage AI tools in machine learning, data mining and predictive analytics to improve their practices.
eBrevia’s Software Brings Artificial Intelligence to Lease Abstraction
Real Estate Tech News reviews the capabilities and impact of eBrevia’s Lease Abstractor in this article, calling the recently released software “groundbreaking” in that it makes extracting vital financial and legal data from commercial leases dramatically easier and more accurate.
“Lease abstraction has proven to be vital to commercial real estate companies in the last few years,” notes the real estate technology publication. Using eBrevia’s Lease Abstractor, “real estate professionals will be able to deploy the power of artificial intelligence technology in order to extract data for property management, portfolio optimization, due diligence, compliance, cost recovery, audits, and even budgeting and forecasting.”
Automated Contract Analytics Gets Smarter
With the advent of machine learning technology, contract analytics has become a sector ripe for innovation and disruption in the legal industry. In this article for Legaltech News, Sean Doherty covers how the newest tool in contract analytics—eBrevia Bespoke—is changing contract review.
eBrevia Bespoke’s machine learning software provides an avenue for contract reviewers to analyze whatever custom terms they deem necessary, with significantly greater speed and accuracy than what’s possible with manual review alone.
Companies that use Bespoke benefit from a computer-assisted contract review that’s “unique and specific to the company’s requirements,” says CEO Ned Gannon. Doherty goes on to discuss how Bespoke works, the future direction of the company, and why now is such an exciting time for the contract review profession.
‘eBrevia Bespoke’ Provides Customized Contract Analytics
In his blog Law Sites, lawyer, consultant, and legal technology connoisseur Robert Ambrogi covers the launch of eBrevia Bespoke, the latest addition to eBrevia’s suite of artificial intelligence contract analytics software.
The new Bespoke software “will search for user-defined terms. That means that it can be adapted for virtually any kind of use,” says Ambrogi. Now organizations in any industry, working on contract review of any kind, can benefit from the most advanced in contract analytics.
eBrevia Launches Bespoke, Offering Custom Contract Analytics
eBrevia’s newest solution, eBrevia Bespoke, is now available. It is the latest in the company’s line of software products applying machine learning to contract review and management. With eBrevia Bespoke, clients can identify and extract specific contractual terms unique to their industry, domain, or project.
“Since we launched our software, clients have requested the ability to search a set of terms customized to their specific industries and projects,” said CEO Ned Gannon. “We wanted to meet this demand by tailoring the core machine learning technology of our product to help expedite the expensive and time-consuming process of data extraction from contracts, leases and other documents.”
Bending the Cost Curve of Legal Services to Close the Justice Gap
In this piece for the Huffington Post, Albany Law School Associate Professor Ray Brescia discusses how eBrevia is among legal technology companies closing the justice gap by making efficient legal service delivery a reality.
“Perhaps eBrevia is an example of the cutting-edge; it shows where innovation can be most effective in terms of bringing down the cost of legal services, while not serving as a substitute for an actual lawyer.” According to Brescia, legal technology companies serving law firms have significant potential to bring positive, transformative change to the industry.
eBrevia Heads to Realcomm & CRE Tech Intersect
At Realcomm, Co-Founder and COO Adam Nguyen will participate on panel discussion about using data science to improve lease abstraction.
“Our aim is to showcase the pivotal role of artificial intelligence technology in abstracting data for portfolio optimization, property management, compliance, diligence, audits, cost recovery, and budgeting and forecasting,” says Nguyen. “The process has historically proven to be extraordinarily time- and labor-intensive.”
See the full press release.
Will Robots Replace Lawyers?
In this guest post for Bloomberg BNA, eBrevia CEO Ned Gannon discusses the promise of machine learning and natural language processing in the corporate legal industry, and what these technological advances will mean for lawyers.
In an age of information onslaught, new due diligence and contract analysis technology can help lawyers leverage their data, allowing them to focus on more creative work, says Gannon.
eBrevia Adds Three Senior Hires to Fast Growing Team
eBrevia today announced the addition of three senior team members: Alessia Bell, Vice President of Innovation and Business Development; Sue Banerjee, Vice President of Client Relations and Medi Iman, Subject Matter Expert for Corporate and Investment Management. The expansion marks a rising demand for contract analytics software in the corporate legal industry and is reflective of the company’s fast growth trajectory.
Bell, Banerjee, and Iman bring extensive and diverse legal experience to the company. “Adding highly-qualified members to our team is critical as we continue to grow,” said CEO Ned Gannon.
What is the Future of Law as it Converges With Technology?
What the “future of law” will look like is a hot topic among legal pundits, but as eBrevia COO Adam Nguyen discusses in this guest post for Law Technology Today, in many ways, the future of law is already here. New automation technologies are enabling lawyers to spend less time on low-level operational tasks and more time on strategic thinking and creative legal analysis, a shift in focus that is improving legal service delivery in countless ways.
“Instead of paper pushing, lawyers can now perform work that clients truly value,” says Nguyen. Empowered by machine learning and other artificial intelligence technologies, both lawyers and clients can be grateful that the “future of law” has largely arrived.
The Future of Legal Technology is Already Here
Prior to starting eBrevia, our co-founders wondered why there wasn’t a better way to do contract review. Now several years later, eBrevia CEO Ned Gannon and COO Adam Nguyen discuss ways in which the future is here for the legal industry in this episode of the Legal Talk Network podcast.
Thanks to the advent of technology focused on serving legal professionals, Gannon and Nguyen say that many legal processes are being streamlined and improved. They discuss how machine learning, algorithmic predictions, and collaboration tools available today represent what was once considered ‘the future of law.’
Now’s the Time for CRE Tech Innovation
Tech innovation is progressing rapidly in the commercial real estate (CRE) industry, and CRE leaders with an eye on the future are taking note. eBrevia CEO Ned Gannon writes for CRE news publication GlobeSt.com on what’s stopped firms from investing in CRE technology in the past, how new tech can benefit them, and where CRE innovation is headed.
“With $605 million invested in real estate tech in 2014, a whopping 2.5 times venture fund investments in real estate the year before, many are pointing to innovation on the commercial side as the next growth driver for the industry.”
eBrevia Applies Machine Learning To Contract Review
Forbes covers how eBrevia is making waves in the corporate legal industry with contract review software powered by artificial intelligence technology. Unlike the many legal technology products built for the litigation side of the industry, eBrevia’s products assist corporate legal professionals, making the company’s cutting edge technology a unique asset to its users.
“Despite their small size, eBrevia has seen adoption on both sides of the Atlantic, with some global legal firms using the solution,” reports angel investor Ben Kepes. “In a very long and complex legal document, eBrevia will help attorneys find relevant information…no matter how deeply it is buried in convoluted clauses.”