Global News
Robin AI, the AI-powered legal assistant, today announced a revolutionary new product line, Robin AI Reports, which automates a key piece of due diligence and negotiations, providing a boost to the sluggish pace of M&A.
The new offering can generate reports on contracts in minutes — solving expensive pain points for legal teams, by dramatically cutting the time and cost of manual work in due diligence around M&A, IPOs, and other asset management including real estate and debt financing.
A free version of Robin AI Reports is available as part of the company’s commitment to democratising access to legal services.
Robin AI Reports is designed to generate comprehensive reports on contracts within minutes, addressing the costly and time-consuming manual work traditionally required in due diligence. This new offering is set to transform how legal teams handle M&A and IPO processes, providing a much-needed boost to the often sluggish deals environment.
Key features and benefits to the product include speed, cost-benefits and efficiency; for example, the Reports function can analyse hundreds of contracts simultaneously, drastically reducing the time needed for legal reviews from hours to minutes. By automating the due diligence process, Robin AI Reports eliminates the need for expensive legal fees, making high-quality legal services more accessible. The tool also provides detailed summaries of key issues and deviations from preferred positions, with clear citations for easy verification by human reviewers. Finally, the reports can be used for various purposes, including M&A due diligence, supplier agreements, and audits.
The product was unveiled in London at a legaltech event, where James Clough, CTO and co-founder of Robin AI, highlighted the transformative potential of the new tool "With Robin AI Reports, M&A, IPO, and other asset transactions no longer have to grind to a halt for weeks for due diligence," Clough stated. "We’re helping businesses close deals faster and are proud to be the first in our industry to do this."
Developed in collaboration with partners such as the University of Cambridge, Robin AI Reports has already demonstrated significant time savings. Tasks that previously took senior in-house lawyers three hours now take just 30 minutes, representing an 85% reduction in time.
Robin AI leverages Amazon Bedrock and Anthropic's Claude 3 generative AI model to ensure secure and compliant data handling. A copy of Claude 3 exists within Robin AI’s cloud environment, ensuring user data remains protected.
"We have found the reports to be incredibly helpful, saving our team many hours and enabling us to conduct legal reviews in a more accurate way," said Sam Sturge, Director, Private Assets at University of Cambridge Investment Management. "They are also easy to generate and review, meaning you do not have to be a lawyer or AI expert to harness the benefits from the platform."
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