NEWS

Document Crunch Wins IGI 2020 Start-Up Battle

One of the highlights of Virtual Industrial Grade Innovation 2020 was our third annual Start-Up Battle. This year, 16 construction-technology startups competed in four rounds

AXA XL launches Construction Ecosystem Tech Library and announces 20 new tech solution partnerships

AXA XL’s North America Construction insurance business officially launched its Construction Ecosystem, an integrated digital platform,

Document Crunch Bags Investment For Construction NLP Platform

Document Crunch, an NLP-driven doc analysis platform focused on the construction sector and that taps Kira Systems’ technology, has received an undisclosed Seed investment from..

Putting AI To Work Mitigating Project Risk

The risk of missing a requirement can weigh heavily on the minds of project teams. Slim profit margins leave no room for error, and there are countless tasks that project teams are responsible for juggling throughout the lifecycle of a project...

Reduce Construction Risk With Artificial Intelligence And Machine Learning

Technology’s impact on the construction industry cannot be overstated. The industry has seen significant advancements impacting areas such as bidding/estimating, contract and...

Document Crunch™ Partners with AXA XL on New Construction Ecosystem

Last month AXA XL officially announced the launch of its new digital ecosystem built to help clients manage the risks associated with construction projects...

Can Artificial Intelligence/Machine Learning Be Applied To Review Construction Contract Documents?

Special to Ontario Construction News. It is well documented that the construction Industry is way

SmartPM Recommended Schedule Clauses- Part 1

The construction industry is currently in a dynamic state as it reacts to the impacts of COVID-19 and it plans to manage all of the future implications that seem to be...

Don’t Panic! Legal Tech Is Only As Great As A Great Lawyer

Don’t assume the role of the in-house...

The Economics of Legal Tech

People are getting excited that more lawyers are now making use of e-signatures because of the Covid-19 lockdown. But why? For some, they’re just glad to see further adoption of digital tools in the legal sector. But why is that change..

Artificial Intelligence: Construction Technology’s Next Frontier

Engineering and construction is behind the curve in implementing artificial intelligence solutions. Based on extensive research, we survey applications and algorithms to help bridge the...

Q&A with Document Crunch’s Joshua Levy, Strategic Advisor & Co-Founder

Co-Founders, Joshua Levy and Adam Handfinger, took note of how construction companies review documents that can range from 30 to 200+ pages without having the right resources to truly understand the important details of them...

AI startups raised $6.9 billion in Q1 2020, a record-setting pace before coronavirus

AI startups continued to outpace the overall U.S. venture capital market in the first quarter of 2020, but the coronavirus pandemic is expected to have a severe impact on funding across all sectors for the rest of the year...

AI In Corporate Legal Operations
And What It Means For You

Corporate legal departments have long worked against the perception that they function within the enterprise as a cumbersome cost center — as a department of “no” rather than as a strategic business partner...

A Case Study on Evaluating AI Abstraction Tools

You can materially improve human performance by integrating these tools into your contract workflows. Time savings averaged 28% in our proof of concept...

Global Legal AI Software Market is Due to Grow and Reach $1.89 Billion by 2026

The Global Legal AI Software Market is expected to reach $1.89 billion by 2026 growing at a CAGR of 30.5% from 2017 to 2026. Legal AI software refers to the usage of AI technology to perform various tasks carried out by law firms and corporate...

Deloitte Survey: What Are The 7 Capabilities Central To AI And Digital Transformation

The accounting and services giant questioned 1,200 executives at organizations of at least 500 people with above $250 million in revenue, finding that 19% planned to invest $20 million or more during 2019...

The Legal Tech Renaissance And Making It Work For You

The Legal Tech Renaissance is here, finally. You are all part of a generational shift in legal leadership that has increased the adoption of technology in general and artificial intelligence (AI) in particular...

How AI And Machine Learning Are Transforming Law Firms And The Legal Sector

Whenever a professional sector faces new technology, questions arise regarding how that technology will disrupt daily operations and the careers of those who choose that profession. And lawyers and the legal profession are no exception...

Why The Big Four Audit Firms PWC, EY, Deloitte & KPMG Are Investing Heavily In AI

Tax preparation, auditing and business consultation are the kinds of services that are traditionally dependent on predominantly human capital. But...

Hunting for the Sharpest Tools in the AI Shed

Your company has tens or hundreds of thousands of agreements, most of which pre-date your tenure or you inherited from acquisitions. Who has time to re-read them all to figure out what’s in them?...

AI Will Transform The Field Of Law

The law touches every corner of the business world. Virtually everything that companies do—sales, purchases, partnerships, mergers, reorganizations—they do via legally enforceable contracts...

Tech Is Having No Impact on Lawyer Numbers, Yet – Data Shows

Despite the much discussed theory that as more tech enters the legal profession the number of lawyers will decline, there is no evidence for that – yet. In fact, the most recent data shows that, in a market such...

Why Leading Firms are Thriving with AI-Powered Software – Kira Systems Whitepaper

Countless industries have been digitized over the past decade, leveraging new technology to future-proof their businesses by improving customer experience and automating repetitive processes...

Artificial Intelligence And Its Impact On Legal Technology: to boldly go where no legal department has gone before

Some of the best scenes in the television show “Star Trek” (the original version) are those involving the crew members (usually Mr. Spock) asking the computer...

Artificial Intelligence And The Future Of Legal Practice

The alarming headlines and predictions of artificial intelligence (AI) replacing lawyers have no doubt created discomfort for many attorneys already anxious about the future of their profession: "Rise of the Robolawyers."...

68% Of Deloitte’s 2019 Tech Fast 500 Are From Software

Eight of the top ten 2019 winners are software companies, including UiPath, Sarepta Therapeutics, Inc., AuditBoard, Outreach, iLearningEngines Inc., Urgently, SentinelOne, Wibbitz, LendingPoint and Fortress Biotech, Inc...

Reimagining the Legal Function – EY

If you’re in any doubt that legal functions are facing a need for radical change, then consider these three statistics from our recent study of 1,000 in-house legal departments worldwide. First, 87% of respondents say their legal function has...

ContractPodAi scores $55M for its ‘AI-powered’ contract management software

ContractPodAi, a London-based startup that has developed what it describes as AI-powered contract lifecycle management software, is disclosing $55 million in Series B funding. The round is led by U.S.-based Insight Partners, with participation from...

INSIGHT: GCs Should Turn to AI to Save Time, Money, Manage Data

The time has come for corporate legal departments overseeing large litigation portfolios or facing frequent inquiries and investigations to move beyond the limitations of case-by-case matter management...

2019 Could Be A Big Year for Contract AI: Survey

The European Union's General Data Protection Regulation is one of the leading uses of contract AI inside corporate legal departments and a new survey indicates that the technology could see dramatic growth within the legal sector by the...

A.I. Helps Take Automated Contract Analysis to the Next Level

Digitally augmenting the work of lawyers and in-house counsels could be the next step in the vast field of contract review. In complex fast-paced economies, diverging interests collide and are balanced out by the law and the tools it provides for that purpose, such as the use of contracts.

A.I. Is Doing Legal Work. But It Won’t Replace Lawyers, Yet.

Impressive advances in artificial intelligence technology tailored for legal work have led some lawyers to worry that their profession may be Silicon Valley’s next victim. But recent research and even the people working on the software meant to automate legal work say the adoption...

Artificial Intelligence And Its Impact On Legal Technology: To Boldly Go Where No Legal Department Has Gone Before

The conversation around artificial intelligence is often bogged down by jargon and metaphors relying on our notions of magic rather than our knowledge of science. This is the wrong approach, according to Ed Walters, CEO of...

Artificial Intelligence Vs Lawyers:
The Race is Still On

Right from contract review and management to legal outcomes anticipation and performing due diligence to conducting legal research, the impact of artificial intelligence (AI) in the legal industry is indeed worth mentioning...

Benefits Of Artificial Intelligence: What Have You Done For Me Lately?

The legal industry and profession are on the cusp of a revolution in the practice of law led by the adoption of artificial intelligence (AI) computers – in particular by in-house lawyers. Part I of this series defined artificial intelligence and how...

Can Artificial Intelligence Solve Big Law's $60B Question?

For law firms and their clients, the promises and the challenges of new technologies were both on display earlier this month at a Georgia State University College of Law symposium on turning artificial intelligence into legal intelligence.

How AI Is Changing Contracts

Contracting is a common activity, but it is one that few companies do efficiently or effectively. In fact, it has been estimated that inefficient contracting causes firms to lose between 5% to 40% of value on a given deal, depending on circumstances. But recent technological developments like artificial intelligence (AI) are now helping companies overcome many of the challenges to contracting.

Law Firms In The Digital Age –
What You Need To Know

In the digital age, law firms are transforming themselves in every niche possible; the market and its risks, people and process, finance and infrastructure, or any vertical from any region of the world.

Technology has the power to improve an organization’s efficiency if used to the optimum level. Most traditional law firms are losing ground gradually due to...

Will A.I. Put Lawyers Out Of Business?

What is the law but a series of algorithms? Codified instructions proscribing dos and don’ts—ifs and thens. Sounds a lot like computer programming, right? The legal system, on the other hand, is not as straightforward as coding. Just consider the complicated state of justice today, whether it be problems stemming from backlogged courts, overburdened public defenders, and swathes of defendants...

Will AI Replace Lawyers? Assessing The Potential Of Artificial Intelligence In Legal Services

In May 1997, in a high-profile chess match held under tournament conditions, the reigning world champion, Garry Kasparov, took on Deep Blue, an IBM-developed computer, and lost. It was the first time that an artificial intelligence (AI) had defeated a world champion. The result received much coverage at the time...