Harvey AI, a startup funded by OpenAI, has teamed up with global law firm Allen & Overy to automate legal document drafting and research. Harvey is a generative AI technology that uses OpenAI’s GPT software to save lawyers time and increase efficiency by serving as a starting point for legal work such as contract drafting and review. According to the startup, the deal with Allen & Overy could pave the way for more similar transactions.

Several legal tech firms have recently released AI-powered tools that include the technology for contract drafting and review. Allen & Overy partner David Wakeling believes that law firms that do not adopt generative AI will be at a competitive disadvantage in the long run. By automating repetitive tasks, the technology allows law firms to save time and money, but Wakeling emphasizes that any AI-assisted work will always be reviewed by a human lawyer. Legal work is a good fit for generative AI technology due to the high amount of repetition and text-based learning involved.

Source.

Interesting story? Please click on the ? button below!

Let us know your thoughts! Sign up for a Mindplex account now, join our Telegram, or follow us on Twitter.