INSUBCONTINENT EXCLUSIVE:
Can Artificial Intelligence replace lawyers Perhaps sometime in the distant future, but in the meantime AI is already augmenting the work
done by legal professionals as startups race to reach that ultimate goal.One burgeoning player in the AI-powered legal tech space is Tel
Aviv-based LawGeex, which has developed automated contract review technology to help companies sift through things like NDAs, supply
Today, the company is announcing that it has closed $12 million in new investment.Led by VC fund Aleph, with participation from previous
backers, including Lool Ventures, the new round of funding will be used by LawGeex to further develop its product, and build a bigger
where it recently opened a New York office
system aims to significantly speed up and cut costs inherent with the contract approval process
contracts, and only spend a few minutes, instead of hours, on problematic ones
like a spelling or grammar checker (see screenshot above)
But instead of looking for specific keywords or language, the AI has been trained to understand technical legal language or so-called
thousands of legal contracts, and having experienced U.S
lawyers annotate those contracts along the way
