Four in 10 chief legal officers rank operational efficiency as their legal department’s top strategic initiative for the coming year, according to an industry report.
In hopes of supporting that goal, 45% of CLOs said they plan to invest in new technology, the Association of Corporate Counsel’s 2024 Chief Legal Officers Survey found.
Many of these tools will likely be powered by artificial intelligence, as 75% of legal chiefs expect to use generative AI in the legal function in the near term, according to a report from FTI Consulting and Relativity.
In-house departments will have additional tech options to choose from following product developments announced by a variety of legal technology companies just before or during ALM’s annual Legalweek conference. The event ran from Jan. 29 to Feb. 1 in New York.
Here are some of the recent legal technology product announcements that may be of interest to in-house legal teams:
Consilio: The company announced the launch of Complete AI, which it said is a platform of solutions that will support key legal and compliance use cases. The generative AI-powered suite of products “increases the speed-to-insights over traditional eDiscovery processes while helping clients control costs,” Consilio said in a press release.
DISCO: The company announced the launch of Cecilia Deposition Summaries, which is a generative AI-driven technology that is designed to let legal professionals automatically create deposition summaries. “The solution is designed to let users upload deposition transcripts and then receive key-topic summaries within a matter of minutes, with links and full citations,” DISCO said in a press release.
Exterro: The company announced the launch of Exterro Assist, which it said is a generative AI-powered assistant for e-discovery, privacy and data governance, forensic investigations and cybersecurity experts. The product will enable customers to “quickly search and retrieve contextually relevant information and automate complex workflows using natural language,” the company said in a press release.
Onit: The company announced the launch of the Catalyst Virtual Assistant for Legal Operations within OnitX, a workflow automation platform for sophisticated, legal-related business processes. “Legal professionals can now use natural language chat to access a new, powerful level of intelligence enabled by generative AI that simplifies and automates everyday legal tasks from within their most-used productivity software — Microsoft Outlook,” the company said in a press release.
Priori: The company announced new features which it said will empower legal teams to send requests for proposals (RFPs) to their own trusted law firm networks directly through the Priori platform. The features available via early access will also help legal teams “leverage structured reviews and scorecards to better track and maintain knowledge about their preferred firms’ performance over time,” according to a Priori press release.
Relativity: The company announced the limited availability launch of Relativity aiR for Review, which it said will enable faster and higher quality document review. The generative AI-powered product analyzes documents “for responsiveness, issues and importance to help users defensibly find the most relevant information at scale,” the company said in a press release.
Robin AI: The company announced the launch of a new capability within its AI-powered legal copilot which it said can check a contract’s defined terms in seconds. The Defined Terms feature will save legal teams time and reduce the business risks from incorrectly defined terms, Robin AI said in a press release.