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Today vLex  is announcing the launch of a powerful suite of generative AI-backed document analysis tools for litigators and transactional attorneys  Vincent AI platform.  vLex occupies a unique space in the legal research and workflow space since it is the only truly multi-national research platform which has now expanded into an AI enabled

Vincent AI Document Analyze The new product called Vincent AI Document Analyze is a workflow tool designed to streamline and enhance  the drafting of contracts, motions, pleadings, and other legal documents. vLex is the only legal research and drafting platform offering  AI tools with multi-national capabilities “built on top of the world’s most comprehensive global library of legal information, with more than 1 billion documents from around the world. “

vLex Labs  vLex is also announcing the availability of  vLex Labs. This will be offered to select Vincent customers and will enable them to team up with a vLex implementation team and in order to create proprietary AI-powered workflows.

Beyond Legal Research The most important sentence in the press release indicates that this is  a milestone marking  vLex’s commitment to drive innovation into their products and take the lead in developing legal research solutions “that go beyond information retrieval to revolutionize the way that legal professionals work.”

“With Vincent AI, you no longer have to choose between innovative technology and comprehensive content,” said vLex CEO Luís Faus. “Our platform offers a seamless integration of both, setting a new standard in efficiency, customization, and effectiveness across all legal practices.”

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Vincent AI Document Analyze

Vincent AI Document Analyze offers customizable GenAI-backed workflows that enable legal professionals to interrogate complex legal documents and use Vincent’s legal reasoning and analysis abilities to begin drafting strategic responses, harnessing the power of structured data. Users achieve benefits such as:Continue Reading  vLex Expands Vincent GenAI Toolset, and Launches AI-Focused Co-Development Lab 

Bloomberg Industry Group has announced that the acquisition of Dashboard Legal, a project management and collaboration solution designed for law firms and in-house counsel. Like the majority of legal tech startups, Dashboard Legal by developed by a former ALM 100 attorney Mat Rotenberg, in a “there’s got to be a better way” moment.

I had a chance to talk with Rotenberg and Joe Breda, president Bloomberg Law.  I was particularly fascinated to hear that Rotenberg had participated in  large law “technology committees” which means not only felt the frustrations of of fragmented workflows as a practitioner, but understands the mechanics of legal tech decision making. Dashboard Legal was built to enable collaboration and to simplify and clarify workflows as well as maximize efficiency.

Dashboard Legal is positioned in the legal project management space. It provides team level, real-time visibility into the projects and tasks attorneys are responsible for executing. The acquisition expands Bloomberg Law’s presence within the legal workflow market, which it entered last year with the introduction of Bloomberg Law Contract Solutions, its AI-powered solution for storing, searching, drafting, and negotiating contracts. Although the founder was a transactional attorney the tools can be using across of wide spectrum of use cases including litigation projects.

Only two prior acquisitions. Bloomberg Law has done most of their development in-house. They have previously acquired only two other companies. The Bureau of National Affairs (BNA) in 2011  and . Exemplify in 2016, the technology that underpins Bloomberg Law’s Draft Analyzer.

The BNA acquisition aligns well with the Dashboard Legal workflow tools. BNA brought Bloomberg a deep mine of secondary material including treatises, newsletters and practical guidance materials. I like to remind people that BNA was the first company in the U.S. to Continue Reading Bloomberg Industry Group Dives into Workflow and Collaboration Market with the Acquisition of Dashboard Legal

The ILTACON 2024 Exhibit Hall will once again host the ILTACON Startup Stage and Startup Hub. The Startup Hub will offer more than 25 opportunities for new startups to exhibit at ILTACON for a reduced rate and promote their organizations on the Startup Stage.

Applications for the Startup hub will open on March 25 and…

LegalOn Technologies, has launched LegalOn Assistant, which can answer contract questions, draft clauses, summarize contract terms, and more. According to US CEO Daniel Lewis,  “LegalOn Assistant is an extension of your legal team. It saves you time, handles mundane tasks, and is easy to use in day-to-day work.”

LegalOn includes a suite  tools for streamlining contract review and drafting. Functionalities include redlining, practice notes, contract templates, and easy customization for companies with their own playbooks and templates. 

The new LegalOn Assistant will be available to all existing subscribers at no additional cost.

LegalOn Assistant is specially trained and tested for commercial contracting work. “Dozens of engineers and lawyers worked for months to take the power of GPT-4 and upgrade it with legal training and testing,” said Gabor Melli, VP of Artificial Intelligence at LegalOn. “We add to that

advanced security and privacy protections, including SOC II Type 2 compliance, so that companies can trust Assistant with their sensitive documents and questions.”Continue Reading LegalOn Launches Gen AI Assistant for Contract Questions, Summarization, and Drafting

Today LexisNexis Legal & Professional, released results from a survey of senior leadership at top U.S. law firms and legal professionals at Fortune 1000 companies. The survey   2024 Investing in Legal Innovation Survey: The Rise of GenAI at Top Firms & Corporations  explores  the business impact of generative AI technology on the legal industry.

I can’t recall any prior technology that has simultaneously trigged both of breathless enthusiasm and panicked resistance . While the technology shows game changing promise, there are significant ethical, client relations, security and intellectual property concerns which still need to be addressed. The C-Suite survey charts the issues of concern where are impeding adoption of GenAI.

Rapid Uptake and Generative AI investmentsContinue Reading LexisNexis Report: What Every C Suite Leader Needs to Know about Legal AI

 LexisNexis® Legal & Professional  Lexis+ AI is a  a generative AI solution driven by LexisNexis’ proprietary search engine and authoritative content. Lexis+ AI   delivers results based on the LexisNexis’ proprietary content which assures that results include “verifiable, citable authority. This follows the 2023 launch of  Lexis+ AI in the United States.

Lexis+ AI technology offers conversational search, insightful summarisation, intelligent legal drafting capabilities and document upload capabilities, all supported by state-of-the-art encryption and privacy technology to keep sensitive data secure.

Conversational search simplifies the complex and time-consuming legal research journey, providing a search experience for diverse legal questions with citations, facilitating lawyers’ ability to complete research effectively and efficiently.

Enhanced summarization provides a custom summary of legal documents to speed up and guide insightful analysis.Continue Reading LexisNexis Launches Commercial Preview of Lexis+ AI in U.K. and Canada

Today, Thomson Reuters, and the Center on Ethics and the Legal Profession at Georgetown Law has released the 2024 Report on the State of the US Legal Market.

The report opens with the sobering tale of the collapse of Pan American Airways because leaders stuck with an old strategy and failed to pivot as more nimble competitors emerged and an oil embargo changed the economics of international travel. We have seen this executive paralysis and  failure to  recognize the emergence of a market disruptor repeatedl: Kodak, Blockbuster, Swiss watchmakers … the theme documented in Clayton Christensen’s book  “The Innovator’s Dilemma.”  

The report continues the warning by noting how several fundamental shifts in the market threaten to upend traditional law firm business models, most notably the emergence of Generative AI. Law firms continue to inflate the rates balloon and clients wield market power in demanding higher discounts to deflate the increases.

Shifting market factors include:Continue Reading Thomson Reuters 2024 Report on the State of the Legal Market — Cloudy With a Chance of Disruption?

I have lived through legal technology revolutions before. The conversion of legal research from print to online moved though law firms like slow rolling train.  Lexis, the first commercial online  legal research product launched in 1970. Many firms did not fully embrace online research and abandon print until the pandemic drove the profession to remote work, nearly 50 years later. Analytics in legal research provided dramatic new insights into the behavior of judges, courts, attorneys and clients. It took less than ten years following the launch of Lex Machina in 2013 for legal analytics to move from esoteric to essential. The promise  of, if not the practice  with  Generative AI swept like a wildfire through the legal information market. When ChatGPT launched it took only five days to reach a million users and by January 2023 (2 months later) it had a 100 million users. Enter the “hype cycle.”

While OpenAi dominated the commercial market, Casetext, which had early access to GTP 4 dominated legal industry news headlines in 2023. Read the full post at Legal Tech HubContinue Reading Standing on the threshold of change: 2023 in review (A somewhat irreverent review of the AI hysteria That Swept Through the Legal Industry)

Today Casetext announced that a new feature called Timeline is available in CoCounsel. Timeline makes it easy to assemble “clear, comprehensive, and accurate chronologies” from large volumes of documents by using AI to extract events and arrange them into a chronological series. Timeline enables attorneys to manipulate the results through filtering, editing and focusing. Casetext was acquired by Thomson Reuters earlier this year.

Time Saving with Timeline

According to the announcement, TImeline :”enhances attorneys’ thoroughness and inaccuracy saving hours of painstaking, manual work and achieving better results.” Timeline eliminate the risks of manual review by reading “every word” in every document in the collection being analyzed. The Timeline report includes citations supporting its findings to enable quick review and validation.

Timeline features

Continue Reading Casetext CoCounsel Launches Timeline Feature