Dentons’ tech joint venture is developing a new tool to help lawyers assess the impact of Brexit on companies’ contracts.
Nextlaw Labs has joined forces with London-based technology company RAVN to develop a new artificial intelligence tool that will help companies measure and monitor the impact of the recent EU referendum outcome on their contract portfolio. The program, which functions like an advanced search engine, uses RAVN’s ‘Applied Cognitive Engine’ and a specialist algorithm to locate and highlight points within contracts that require legal attention in the lead up to Brexit. The program will cut down on the time required to review contracts, while also hopefully minimising the scope for human error. With Brexit-related issues just the starting point for potential future applications, Dentons and Nextlaw are hoping to roll out the new tool in the UK and the US.
Source: Legal Business