ai for document creation · ai for document creation how ai is being used to produce better quality...

AI for Document Creation

How AI is being used to produce better quality documents, quicker, in today’s law firms

Peter Wallqvist, iManage

10/8/18 2I© Copyright 2018 iManage.

Agenda

AI For Document CreationHow AI is being used to produce better quality documents, quicker, in today’s law firms

• Key learnings from AI in law

• What problems can effectively be addressed?

• Deeper look at how the capabilities are used in KM and document creation

• Demo of integration with Word


As Artificial Intelligence Matures, Key Learnings Emerge

Practical AI is the application of AI to specific demonstrated use cases that deliver high ROI – innovation in a repeatable way

AI is best embedded Best when focused Cognitive Task Automation• Into a user experience

• Tightest integration

• Specific problems

• The narrower the better

• Not job replacement


Practical AI Addresses Key Firm Pressures

Automate Document Review Tasks

• Quickly classify documents to get them to the right attorney

• Automate data extraction

• Higher accuracy and consistency than manual –save up to 75%

Staff Augmentation & Rush Projects Can Impact

Cost & Quality

AI Enabled Playbook / Precedent

adherence

• Suggests clauses for efficiency and consistency

• Make prior knowledge accessible to fee earners

• Reduce risks by being aware of previous agreements

Inconsistent Clauses Introduce Risk

Enable New Business Opportunities

• Identify clients affected by new laws

• Efficiently review employment contracts

Too Much Data Makes Some Projects

Economically Unfeasible

AI Platform Addresses Needs Firm-wide

• Deploy capabilities across firm on single platform

• Network effects improves work across firms departments and practice areas

Knowledge acquired during legal work is not

captured

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Typical Classification and Extraction capabilityParty

Clause

Date

Concept

Currency

• Filter and understand§ Type and language of document§ Structure of document§ Search and tagging

• Extract and automate§ Clauses and key data§ Self Serve: AI trained by end users§ Pre-built by experts; reusable

• Analyze and act§ Export to line of business systems§ Expose results in KM Systems§ Embed into legal processes


Document ReviewsQuickly review and summarize large volumes of documents

• Reduce time and cost of review tasks§ Dedicated AI powered review application

increases margins of routine review work

• Out-of-the-box or custom extractors§ Use pre-built or train your own re-usable

extractors for specific use cases

• Extract structured data§ Extract clauses and specific structured data -

dates, tables, currencies, etc.

• Create lasting knowledge assets§ Extracted clauses and structured elements

can be used in other contexts


Document Review

LMA SFA

Party A

Party B

Availability Period(s)

Commitments

Covenants

Extraction Detail

Definition ValueParty A Borrower CoParty B Bank 1, Bank 2...Currency USDTotal Commitments $100,000,000Covenants Leverage, Interest

Cover…Loan Types TLA, TLB, RCF…Tables extracted £ % $Definitions 100s

Review

Business DriverEfficiencies reviewing and summarising documents for clients for Due Diligence and Contract Intelligence

Output toReview interface Due Diligence reports via Excel / WordInternal KM clause libraries


Practice Process AutomationAutomate routine tasks within existing processes in the organization

• Integrate automation in existing processes§ Apply automated extraction without changing

existing processes

• Increase Productivity§ Remove time consuming and unprofitable

routine manual steps

• Increase staff engagement and morale

• Demonstrate to clients they are not paying for commodity work


Clause Library / Knowledge ManagementMake full use of your prior knowledge to create better content faster

• Create a clause library§ Apply extraction and classification to Knowledge

Library, Precedents or specific document types and collections

• Make knowledge more accessible to fee earners§ Improve advice and value to clients§ Stay current and relevant to clients by knowing

“what’s market”

• Surface the Knowledge where most appropriate


Clause Library /Knowledge Management

SPA

Buyer

Seller

Warranties

Sell Price

Adjusted clauses

Extraction Detail

Definition ValueBuyer Union Carbide

Seller PT Energy

Currency USDPrice $120,000,000

Warranties Seller shall warrant…

Counterparty law firm Ajuba LawAdjusted Clauses Liability…

Definitions 100s

Findable

Business DriverMaking prior Knowledge easier and more accessible to the fee earners, improving advice and value to clients

Output toInformation access and KM systems

Structured repositories like DMS systems

BPM / Expert systems / Contract Automation tools


Clause Library

Thank You

ai for document creation · ai for document creation how ai is being used to produce better quality...

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