Maddyness

AI crucial to unlocking time-consuming legal systems

Comments
Share :
Up
Previous part
1 —
Next part
Down
Maddyness
Up
Menu
Part 1
Down
Technology

AI crucial to unlocking time-consuming legal systems

Credits: Unsplash © Tingey Injury Law Firm
69 - trending  |  
Comments
By Maddyness - 28 July 2020 / 07H30 - Updated 22 July 2020

Using AI, Wolters Kluwer has partnered with Della, an AI contract analytics software provider for corporate legal departments and law firms. At a time when the need for increased productivity is accelerating for legal professionals, Wolters Kluwer and Della offer lawyers a new way of analysing their contracts.

With an API integration between Legisway, Wolters Kluwer’s legal management solution for legal departments, and Della’s AI technology – unique on the legaltech market – lawyers can now seamlessly leverage AI and deep learning capabilities to automate contract indexing and streamline and simplify their tasks by resolving critical pain points in the contract management lifecycle.

Freeing up lawyers from time-consuming tasks with AI technology

According to Wolters Kluwer Legal & Regulatory’s 2020 Future Ready Lawyer Report, 82% of legal departments expect greater use of technology to improve their productivity in the next 3 years. In the legal department’s context, each contract is a time-consuming challenge in which all the different pieces of the contractual puzzle such as contract typology, contract lifecycle, regulation or multi-tasking contract management need to be managed.

“Knowing where to quickly locate what is important in a contract is a major challenge for lawyers; they are looking for dedicated solutions that can help them in making the right decisions more quickly whilst controlling their contractual risks. Using Legisway and Della together to automate contract review can streamline legal departments’ workflow across the contract management lifecycle thereby significantly increasing legal professionals’ productivity. We chose to partner with Della, not only because they have developed the most advanced technology on the market, but also the most flexible and scalable one: the application perspectives for our legal software solutions to improve the productivity and performance of legal professionals are endless.” – Jesus Diaz, General Manager of the Legal Software Business Unit of Wolters Kluwer Legal & Regulatory in France

AI technology applied for the first time in the legal market

  • “Deep learning” on the front line: Della’s AI technology uses deep learning to accelerate natural language recognition and instant analysis of the key elements of a contract. This technology gives lawyers new work latitude which has never been achieved before in their contract analysis.
  • Analysis in the form of an evolving query: The technology identifies the key points of the contract based on several criteria. These clusters of data are then materialized by a query and a result proposal with an estimated degree of relevance. The system proposes and the lawyer has the results at their disposal! The machine takes these user actions into account as the months go by, thus optimising the quality of the answers provided.
  • A multilingual solution: Currently, the Della solution identifies English and French data in contracts. However, they have run successful pilots in German and Dutch and have also tested the solution in Spanish, Italian, Polish and Russian.

“We are delighted to partner with Wolters Kluwer. Thanks to the Legisway platform, we can bring the power of AI to legal professionals, freeing them from the tedious process of entering contracts, reducing errors and leading to efficiency gains, thus enabling better quality work.” – Christophe Frèrebeau, CEO of Della

Read also
By

Maddyness

28 July 2020 / 07H30
Updated 22 July 2020
Business
Menu
Entrepreneurs
Menu
Finance
Menu
Innovation
Menu
Technology
Menu
Agenda
Calendar
MaddyEvent
MaddyEvent
MaddyStudio
MaddyStudio
Search
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Most viewed articles
Newsletter
About
Legal Information
Search
Our services
Categories
Maddynews
Hmm ... There's a problem :(
Maddyness

Comme vous le savez, Maddyness est à la pointe de l'innovation.
Malheureusement il semble que votre navigateur ne le soit pas encore...

Pour une bonne expérience de navigation
(et être au top de la modernité) pensez à passer sur :
Chrome
Chrome
Safari
Safari
Firefox
Firefox
Edge
Edge