Global News
RAVN Systems, experts in Enterprise Search, Unstructured Big Data Analytics, Artificial Intelligence (AI) and Knowledge Management solutions, announced today that international law firm, Berwin Leighton Paisner (BLP), is implementing the company’s Artificial Intelligence platform, known as the RAVN Applied Cognitive Engine (RAVN ACE).
RAVN ACE is a cutting-edge AI solution which reads, interprets and extracts specific information from documents. It converts unstructured data into structured output, in a fraction of the time it takes a human - and with a higher degree of accuracy.
BLP has used RAVN ACE to create what it believes to be the UK’s first contract robot, to work within its Real Estate practice, putting it at the cutting edge of innovation in the legal sector. It allows lawyers to focus on higher value work for clients. This application has captured the imagination of the industry, and was featured on the BBC’s recent series about the use of AI in different industries.
BLP’s contract robot uses ACE core functionality to extract data from standard legal documents, cross-check the data internally, check it against external sources, and write the output into a spreadsheet, ready for the next stage of the process.
Matthew Whalley, Head of Legal Risk Consultancy at BLP commented, “The robot has fast become a key member of the team. It delivers perfect results every time we use it. Team morale and productivity has benefited hugely, and I expect us to create a cadre of contract robots throughout the firm. If the reaction to our first application is any indication, we will be leading the implementation of AI in the Law for some time to come.”
Peter Wallqvist, Managing Director at RAVN Systems, added, “The use cases for RAVN ACE are virtually unlimited. In addition to law firms implementing a variety of automated review processes, RAVN is working with organisations from the Media, Telecoms, Professional Services and Financial Services sectors to revolutionise their handling of unstructured data. Use cases include automated Due Diligence, Document Review, Contract Assurance, Governance and Financial Instrument processing”.
RAVN Systems has a combined experience of over 50 years in Enterprise Search and offers revolutionary, search-based solutions and capabilities across a broad spectrum of industry verticals. RAVN solutions and expertise deliver long-term value and competitive advantage from unstructured information and through deep analytics capabilities, mitigate business risk.
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