10 Legal AI Startups Transforming the Way Legal Industry Operates

LegalTech

LegalTech

How legal AI startups are revolutionizing law practices worldwide? 

The legal industry is experiencing a radical shift with the arrival of advanced technology. Today, the industry is leveraging next-generation solutions ranging from artificial intelligence to big data analytics and blockchain. The soaring demand for these technologies has led to the rise of legal tech startups, potentially transforming the practice of law and the delivery of legal services. A cohort of legal tech startups is developing and delivering AI platforms to provide better opportunities to digitally transform the law practices and meet the expectations of tech-savvy clients.

Here are the 10 legal AI startups that are changing the face of the legal industry.

Luminance Technologies

Luminance Technologies is an artificial intelligence platform for the legal industry. The company develops document analysis software to safeguard big data systems for multinational and governmental organizations. The fundamental technology behind Luminance is the Legal Inference Transformation Engine (LITE), built from a blend of unsupervised and supervised machine learning and pattern recognition techniques developed at the University of Cambridge.

Leverton

An MRI Software Company Leverton provides AI-powered data extraction and contracts analytics platform for corporate and legal documents. The company’s automated abstraction process eliminates error-prone, manual data entry while helping in identifying and removing data discrepancies. Leverton accelerates mundane data extraction processes by 50 percent to 75 percent, enabling employees to spend more time doing more strategic, higher-value tasks cost-effectively.

Kira Systems

Kira helps organizations make meaning from their unstructured contracts and related documents. Founded in 2011 in Toronto, Canada, the company uses machine learning software to identify, excerpt and assess text in contracts and other documents. It also finds and extracts indispensable information in lease documents automatically, using ML capabilities adapted for law firms, service providers, and property managers.

ContractPod

ContractPod is an AI-driven contract management solution provider, empowering corporations worldwide. Its intuitive CLM platform sets an AI-powered foundation of easy-to-use templates and automated workflows that streamline contracting and keep organizations 100% compliant. ContractPod’s contract automation technology, developed by software and legal experts, helps firms to see the totality of their contract database, giving them the visibility to quickly understand, decide and act with confidence.

ThoughtRiver

ThoughtRiver allows lawyers to review and negotiate contracts faster, with less risk via a contract Intelligence engine. The company uses machine learning to interpret contracts and analyze their risk depending on corporate policies and protocols. Founded in 2013, ThoughtRiver enables lawyers to deliver more business value and achieve greater job satisfaction by freeing up their time for higher-level strategic work.

CaseMine

CaseMine is an AI-driven legal tech startup in India that leverages AI techniques to uncover latent linkages between case laws thereby making legal research more in-depth and comprehensive. The company’s AI-enabled research tool, called CaseIQ, extracts the facto – legal matrix of any document uploaded onto it. Using technology to examine the various aspects of jurisprudence, CaseMine augments legal research in a multidimensional manner.

Legal Robot

Legal Robot, a California-based legal tech startup, uses machine learning techniques such as deep learning to understand legal language. The startup translates complex legal language into numeric expressions, where statistical and ML techniques can derive meaning. Legal Robot enhances or entirely replaces traditional legal processes like contract reviews via an automated intelligent assistant. Using the legal language model, the intelligent assistant flags issues and suggests improvements by considering best practices, risk factors, and jurisdictional differences.

Casetext

Casetext is an AI-driven legal research technology platform that helps litigators and researchers to find cases. Founded in 2013, its award-winning technology offers both conventional search functionality and its CARA AI-powered contextual search, which focuses on the context of research to help find on-point authorities faster. Casetext solution is designed by experts in machine learning and artificial intelligence through constant consultation with expert litigators.

Intraspexion

Intraspexion is a Sequim, Washington-based company that uses deep learning algorithms to alert corporate legal teams regarding risks of internal litigation in near real-time. It essentially provides an early warning system for legal issues. In 2018, Intraspexion’s deep learning patent portfolio grew to eight, more than anyone’s except Google, IBM, Microsoft, and Siemens Healthcare.

Genie AI

Genie AI is an automatic legal contract drafting platform. It has an artificial intelligence platform called SuperDrafter® that empowers lawyers to draft contracts using the entire knowledge of the firm. The company’s AI semantically understands legal contracts, enabling it to become the bridge towards smart contracts on the blockchain.