For a limited time, Wolters Kluwer’s ELM Solutiosn will conduct a personalized CLM savings consultation and waive the first full year of CLM Matrix software subscription fees on new orders.
eDiscovery itself is a big data challenge, but recent advances in AI and machine learning can help mitigate risks by breaking down the silos of individual cases and leveraging prior case data. Lighthouse’s Karl Sobylak discusses the benefits of bringing technology to bear to understand large data sets at scale in a recent blog: http://ow.ly/QbzZ50COKK8
eDiscovery itself is a big data challenge, but recent advances in AI and machine learning can help mitigate risks by breaking down the silos of individual cases and leveraging prior case data. Lighthouse’s Karl Sobylak discusses the benefits of bringing technology to bear to understand large data sets at scale in a recent blog: http://ow.ly/QbzZ50COKK8
As data volumes continue to grow so does the need for AI and machine learning. In fact, adopting AI can be a catalyst for revitalizing your organization’s ediscovery model. Lighthouse’s Rob Hellewell makes the case for AI including cost reduction, lower risk, and improved win rates in a recent blog: http://ow.ly/MoNs50CMwws
Artificial intelligence, advanced analytics, and machine learning are no longer new to the ediscovery field. While the legal industry admittedly trends towards caution in its embrace of new technology, the ever-growing surge of data is forcing most legal professionals to accept that basic machine learning and AI are becoming necessary ediscovery tools.
However, the constant evolution and improvement of legal tech bestow an excellent opportunity to the forward-thinking ediscovery legal professional who seeks to triumph over the growing inefficiencies and ballooning costs of older technology and workflow models. In this article, we provide you with arguments on how leveraging the most advanced AI and analytics solutions can give your organization or law firm a competitive and financial advantage, while also reducing risk.
Expanding data volumes are having a significant impact on ediscovery, but what are the specific challenges being faced? Lighthouse’s Nick Schreiner outlines six challenges when working with large data sets and offers up insights into how to address these challenges with data re-use, AI, and big data analytics in a recent blog: https://lnkd.in/dYjcY6W
Onit ReviewAI – Contract AI Review that Increases Velocity & Reduces Risk
Onit’s ReviewAI software uses artificial intelligence (AI) to quickly and accurately review, redline, and edit all types of contracts in minutes. Non-legal business users can now automatically receive a reviewed, redlined, and approved contract via email or self-service portal in less than two minutes. For more hands-on functionality, the ReviewAI Word Add-in designed for lawyers and contract professionals automatically drafts, reviews, redlines, and edits contracts against corporate standards. Precedent learns as you work, and comes with a wide range of pre-trained skillsets so you can quickly configure the AI for use on a wide range of use cases, including NDAs, MSAs, SOWs, purchase agreements, lease agreements, employment agreements, construction and sub-contracting agreements and many more. When paired with a contract lifecycle management system like Onit’s, organizations obtain an AI-driven workflow that automates the entire contract lifecycle from creation to execution.
With ReviewAI, corporate legal professionals can:
– Approve contracts 60-70% faster
– Review and redline a contract in 2 minutes or less
– Increase user productivity by up to 51.5%
These days, it seems impossible to talk about eDiscovery or document review without mention of Technology Assisted Review (TAR). In its broadest use as a technical term, TAR can refer to virtually any manner of technical assistance – from password cracking to threading to duplicate and near-duplicate detection. In its narrower use, TAR refers to techniques that involve the use of technology to predict (or to replicate) the decision a human expert would make about the classification or category of a document. In this narrower sense, TAR often comes with a version number – TAR 1.0, TAR 2.0, and more recently, TAR 3.0. While some are inclined to advocate for the superiority of a single approach, each version has its merits and place, and understanding the underlying process and technology is crucial to selecting the right approach for a specific discovery need.
We recently authored a white paper to offer a discussion of the variables to consider when choosing the right TAR workflow for a specific matter, as well as the main principles behind different TAR solutions. By doing so, we make the claim that true preparedness lies in understanding the range of core technology within the TAR landscape, and further knowing how and where to access the right combination of people, process, and technology to meet any discovery need. If you or your team have had mixed results with TAR, or want some guidance on deciding your approach with TAR in your next matter, you may find this paper helpful.
iManage, the company dedicated to transforming how professionals work, today announced that Walder Wyss Ltd. – one of the most successful and fastest growing Swiss commercial law firms – is using iManage Knowledge Unlocked, powered by RAVN, to transform their approach to knowledge management.
iManage Knowledge Unlocked puts knowledge in the hands of the users with 7 ways to search across iManage Work and other systems. It helps users discover new content and insights, identify similar matters or motions, highlight relevant content, and provide updated intelligence on legal principles while respecting security and confidentiality that is so important to the industry. When integrated with powerful business intelligence tools like Microsoft Power BI, it provides Knowledge teams with powerful analytics that enable content to be kept relevant, fresh and additional resources added that meet the needs of the users.
Walder Wyss can instantly see data around which members of the firm are actively using the knowledge management system, what type of searches users are carrying out, what type of results are being returned, and where there might be gaps in content or other areas that require attention to optimize knowledge flow. This enables the firm’s knowledge management team to make statistical connections between users and data.
Identifying “power users” assists in the effort to expand usage across the organization, to uncover and replicate best-practices, and to create best practice document templates. Data regarding what documents and knowledge are not being accessed also provides deep and valuable insights for improvements of how documents can be refined to better meet the expectations and needs of the firm’s lawyers.
Rather than relying on anecdotal evidence about what knowledge assets its professionals find most valuable, the knowledge management team at Walder Wyss is now able to use data to determine how people are using the system. This supports an ongoing process of quality improvement to guide the investment in the knowledge content, enabling the team to make better decisions and deliver higher quality service, driving competitive advantage for the firm.
“Lawyers are busy people – most of them don’t have time to tell us how they’ve been using the knowledge management system,” said Urs Bracher, Legal Engineer and Head of KM at Walder Wyss. “Having Knowledge Unlocked means that we don’t have to guess or rely on just a few lawyers telling us what type of knowledge management assets they find most useful, or where they need more help. We can look at the data and have insights into users’ needs that allow us to better address their requirements.”
The Appeal of a Platform Approach
“We were already using iManage Work as our document management system, so it made a lot of sense to use Knowledge Unlocked for our knowledge management system,” said Lorenz Reinle, Assistant Know-how and Legal Tech at Walder Wyss. “It was a natural extension of our usage of the iManage platform, and iManage is recognized as a leader in the international market, which helped simplify the decision.”
Since going live on Knowledge Unlocked earlier this year, Walder Wyss has rolled it out to all six of its offices in Switzerland. Eventually, there will be nearly 300 users who will use the iManage solution to search and access more than 7,000 knowledge assets within the knowledge management system, and several million documents within iManage Work.
“Knowledge is only as good as your users’ ability to tap into it,” Nick Thomson, General Manager, RAVN, iManage. “Walder Wyss’ usage of Knowledge Unlocked enables them to truly leverage their work product and enhance the effectiveness of their curated knowledge assets, allowing them to continually improve knowledge management processes and outcomes for their users.”
iManage helps mid-size law firms respond to a changing legal market by becoming more agile