We notice you’re visiting us from a region where we have a local version of Inc.com. Watch out, attorneys.
The bots are coming–and they’re getting good at your job. For some lawyers, contract review takes up a huge chunk of time and it can be extremely tedious. That’s why the co-founders of LawGeex began their company in 2014. The Tel Aviv-based startup creates software that uses artificial intelligence to study contracts, flagging any language or stipulations that seem out of the ordinary.
LawGeex released its software to the public early last year. Recently, though, the company decided it wanted to truly put it to the test. In a study overseen by attorneys from Duke University and Stanford University, the startup had 20 experienced lawyers separately study five new non-disclosure agreements, while the AI did the same. Noory Bechor, Lawgeex co-founder and CEO, spent six years as an attorney at Israel’s largest law firm before deciding to pursue the new venture.
“I had a growing frustration with how inefficient the legal world is,” he says. “It’s very repetitive and mundane, and there was no real technology that helps lawyers do their jobs better and more efficiently.” In his early professional days as a paralegal, Bechor had spent much of his time reviewing documents.
“Once you’ve seen hundreds of examples of a specific contract type,” he says, “the concepts keep repeating themselves. I said, if this is so repetitive, it can be automated.” Read more from inc.com…
thumbnail courtesy of inc.com