Dentons launches AI joint venture to tackle clients' Brexit issues
The international firm's NextLaw labs venture has joined forces with AI software company RAVN Systems to help clients navigate Brexit
July 29, 2016 at 06:46 AM
3 minute read
Dentons has partnered with artificial intelligence (AI) software company RAVN Systems to develop technology to help clients deal with Brexit-related issues.
NextLaw Labs, Dentons' Palo Alto-based technology venture, is currently collaborating with RAVN Systems to develop a cognitive search engine tool that can be used for Brexit-related contract reviews.
Using RAVN's applied cognitive engine robot, the tool automatically reviews high volumes of contract documentation to identify provisions that could potentially be affected by the UK's secession from the European Union (EU).
The tool uses an algorithm that has been developed by RAVN with input from Dentons' lawyers, to produce a report highlighting areas of concern for individual clients and giving legal advice as to the steps they should consider.
The technology aims to shorten the time spent on document review and remove the possibility of human error from the process.
Jeremy Cohen, chief executive of Dentons' UK, Middle East and Africa region, said: "Brexit will lead many of our clients into uncharted territory, and our experience since the referendum is that both domestic and overseas companies are looking for legal advice that 'cuts through the noise' and helps to deliver practical and cost-effective guidance, with respect to the many complex challenges that leaving the EU will present them with."
Separately, Dentons and NextLaw Labs are also developing a software application that automatically creates a "Brexit action plan" for clients based on their key areas of risk exposure. Clients will be able to log into a secure website that will ask them to select the key issues their businesses are facing, including data protection, the environment and immigration. Based on this information, an action plan will be produced that identifies steps clients need to take in order to understand their exposure and plan a response.
Chief executive of NextLaw Labs, Dan Jansen, added: "NextLaw Labs was created for exactly this type of challenge. By drawing on feedback from lawyers across Dentons' regulatory and risk group, covering industries such as financial services, IP, media, transport, environment and telecoms, we are collecting ideas on products and services that will help them to deliver better service and then engaging the technology community to develop innovative solutions."
The international firm launched NextLaw labs in May 2015. In January, Dentons appointed two senior general counsel to the company's advisory board.
Senior vice-president and head of legal for the UK and Ireland, Russia and CIS, Middle East and Africa (UKIEMEA) at logistics company Deutsche Post DHL, Keith Austin, and energy company Total's senior legal counsel, Gaston Bilder, have joined the board.
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