As part of an event that brings together legal practitioners and thought leaders, eBrevia's co-founder Adam Nguyen shares the most effective ways of applying today’s legal technology. His presentation highlights the use cases addressed by the combination of eBrevia’s software alongside Thompson Reuters’ Legal Managed Services and Contract Express. Generate 2018 is held in London this September.
eBrevia cofounder and CTO Jacob Mundt explores the benefits of using eBrevia’s artificial intelligence within the Box environment at this year’s BoxWorks convention. Hosted by Box, one of the world’s top file sharing platforms, BoxWorks brings together leaders from the tech sector and various industries to explore the application of the latest technology. The presentation takes place on August 29 in San Francisco, CA.
Ned Gannon, eBrevia’s co-founder and CEO, will participate in a panel entitled Artificial Intelligence Beyond the Hype at ILTACON 2018 in National Harbor, MD on August 23rd. The panel is one of a series of four addressing artificial intelligence in the legal industry. Other panelists include Andrew Arruda, co-founder and CEO of ROSS Intelligence and Jake Heller, founder and CEO of Casetext. The panel will be moderated by Richard Tromans, Legal Industrialist and founder of Artificial Lawyer. The panel will discuss successes, challenges and best practices in the implementation of AI for a variety of legal use cases. The event is hosted by the International Legal Technology Association (ILTA).
On a panel titled “Leading by example: Legal technology in action,” eBrevia's co-founder Adam Nguyen discusses how eBrevia's clients are increasing efficiency in their legal and compliance departments, as well as business units, by deploying eBrevia’s artificial intelligence software. The panel presents key findings and a client case study from the newly-formed venture between eBrevia and Thomson Reuters. This panel also features Maniti Barot and Andy Wishart from Thomson Reuters, and Alistair Maiden from Syke.
Ned Gannon, eBrevia’s co-founder and CEO, joined a prestigious panel of AI thought leaders at Invest Canada ’18 in Calgary. The session entitled “Artificial Intelligence: Cutting Through the Hype” looked through the noise to explore actual experiences in the successful identification and application of modern machine intelligence techniques in a number of industries. The panel also included Kevin Collins, co-founder and CEO of Bit Stew Systems (acquired by GE) and Jimoh Ovbiagele, co-founder and CTO of Ross Intelligence. It was moderated by Shawn Abbott of iNovia Capital. Invest Canada is Canada’s premier private equity and venture capital conference and each year draws investors, companies and service providers from around the world.
Ned Gannon, co-founder and CEO of eBrevia, presented as part of a webinar entitled Lessees and Lessors: The New ASC 842 Rules. Ned focused on how machine learning technology assists corporations as well as their audit/consulting firms in the onerous contract review tasks associated with complying with the new standard. Other presenters included Tony Aponte, a Senior Manager at Ernst & Young, and Jaime Krug, a Partner at Centri Business Consulting. The webinar was sponsored by Donnelley Financial Solutions and also covered the most significant changes from ASC 840 to ASC 842 as well as steps for implementation.
eBrevia and Big Four firm PwC announce a joint business relationship to apply AI driven review across a wide range of applicable matters including GDPR, Brexit, IFRS 16 and ASC 842, IFRS 15 and ASC 606, mergers, acquisitions, divestitures, financings, and real estate portfolio review. PwC's use of eBrevia industry leading AI software will increase efficiency and accuracy of abstraction of key terms from unstructured data. This relationship is a result of over 2 years of evaluation and use of eBrevia's software. PwC has been ranked as the most prestigious accounting firm in the world for seven consecutive years by Vault Accounting 50.
“Integrating eBrevia with our solutions has been instrumental in our drive to innovate and deliver greater value to PwC’s clients. Our solutions were digitally-enabled and significantly benefited from the software’s machine learning capabilities, its ease of use, accuracy and speed,” said Alexandre Blanc, a PwC Principal. “This has differentiated us in the market, and we look forward to further incorporating eBrevia into PwC’s existing solutions and innovation strategies.”
Using eBrevia to meet tight deadlines, small teams can quickly review large quantities of documents in connection with GDPR, Brexit, lease accounting standards IFRS 16 and ASC 842, and revenue recognition standards IFRS 15 and ASC 606, as well as mergers, acquisitions, divestitures, financings, and real estate portfolio review.
“We are thrilled that clients have benefited from the combination of PwC’s deep domain expertise and eBrevia’s cutting-edge machine learning technology,” said Adam Nguyen, eBrevia’s Co-Founder. “With eBrevia’s Bespoke self-training module, PwC has leveraged its extensive knowledge to train our system to extract granular custom data for many types of transactions and industries. Coupled with eBrevia’s out-of-the-box, pre-trained provisions and an intuitive user-interface, our collaboration has delivered significant gains in efficiency for clients.”
As part of Harvard Law School's bicentennial celebrations in Rome, Italy, eBrevia's co-founder Adam Nguyen participates on the panel, FinTech: Blockchain and Artificial Intelligence, to explore recent technological advances in the financial services industry, particularly in light of regulatory changes, such as GDPR and Brexit, that place increasing burdens on legal and compliance functions. Sponsored by the Harvard Law School Alumni Association of Europe and the Harvard Alumni Association, the panel also includes Fabio Panetta, Member of the Governing Board and Deputy Governor of the Bank of Italy, Mariarosaria Taddeo, Research Fellow and Deputy Director of the Digital Ethics Lab. Oxford Internet Institute, University of Oxford, and Lizanne Atherly, Founder of Minds2Capital.
Online legal technology journal Artificial Lawyer interviews eBrevia's co-founder Adam Nguyen about the direction of eBrevia, the recent collaboration with Thomson Reuters, and the future of AI in legal tech. According to Adam, "As things stand, purely human review is too costly, time-consuming, error-prone and not sustainable. While you’ll see an increasing share of contract review work shifting from law firms to ALSPs and similar, I expect that eventually everyone involved in contract review – whether it’s law firms, ALSPs, the Big 4 audit firms, or in-house legal departments – will adopt some form of AI-assisted solution." You can read the rest of the interview by following the link below.
Artificial intelligence is being incorporated into almost every industry, and executives are wondering how AI technologies can make or break their businesses. Adam Nguyen, co-founder of eBrevia, a leading AI contract analytics software provider, shares his perspectives on the adoption of AI across a number of industries, as well as the related ethical, legal and regulatory challenges, during the Symposium on Innovation at Bloomberg in New York City (sponsored by the Harvard Law School Alumni Association of New York City and the Harvard Alumni Association).
As described below in LegalTech News, Thomson Reuters announced a new partnership with eBrevia, where the company’s legal managed services team will use eBrevia’s technology for its contract remediation projects and train it to be used in broader use cases. Thomson Reuters selected eBrevia as an AI contract analytics partner from a wider pool of similar technology platforms using three main criteria: the speed and efficiency of the tool, its accuracy and its ability to handle nontraditional content. Thomson Reuters will also leverage eBrevia’s software to extract contract data and intelligence to help power the company’s Contract Express platform, which generates clauses for contract drafting.
“We sought an innovative partner that not only could deliver results but also could work with us to build something beyond just traditional data extraction,” said Eric Laughlin, managing director, Thomson Reuters Legal Managed Services. “To make our selection, we pressure-tested emerging abstraction technologies with real world contract sets, and found that the machine learning technology employed by eBrevia delivered consistent results while offering excellent project management and quality control features.”
“We are pleased that eBrevia’s machine learning technology will be used by managed services professionals at Thomson Reuters to augment their deep domain expertise to deliver both time savings and increased accuracy for contract remediation and other use cases,” said Adam Nguyen, eBrevia’s co-founder.
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Managed services + integrated tech: What Thomson Reuters commercial contracts collaboration with eBrevia means
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Thomson Reuters Turns to eBrevia to Augment Contract Services
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Thomson Reuters Brings In Legal AI Co. eBrevia In Breakthrough Development
Duff & Phelps, a top global valuation and corporate finance advisor, has selected eBrevia’s artificial intelligence technology to deploy throughout the enterprise for faster contract review. The firm is leveraging eBrevia's award-winning software in support of a variety of use cases. These increasingly include not only for transactional work and large-scale contract review projects but also assisting clients in complying with IFRS 15, IFRS 16, and GDPR.
eBrevia is pleased to announce inclusion in the National Law Journal's Legal AI Leaders, a listing of companies that are leading the legal industry by advancing AI technology. Beginning in 2013, the National Law Journal started publishing its Trailblazers series, featuring innovative professionals in the legal world. This year, after months of research, the ALM owned periodical published its inaugural Legal AI Leaders list, applying the same Trailblazers concept to companies furthering the technology of artificial intelligence within the legal profession.
Adam Nguyen, eBrevia's co-founder and COO, speaks at the ABA's Corporate Counsel CLE Seminar in La Quinta, CA on what artificial intelligence can do today and may be able to do in the future for the legal profession. The panel, “Autonomous Lawyering: Predictive Analytics and Artificial Intelligence are Changing the Practice of Law”, also explores the legal restrictions on lawyers’ use of AI and the implications of AI for the legal profession.
eBrevia's co-founder & COO, Adam Nguyen, presents case studies showing how eBrevia’s clients have achieved great results by combining eBrevia's artificial intelligence solutions and professional services. The LegalTech educational track, “The Future for ALSPs is Now: How Combined Service/Technology Solutions Build Scale and Leverage Emerging Technologies”, also features Jeff Sharer, Co-chair of Akerman’s Data Law Practice.
In an article outlining the benefits of legal technology, eBrevia was highlighted as a useful and cost-saving solution. The Financial Times article lists Baker McKenzie’s use of eBrevia for due diligence on contracts, and focuses on how technology will continue to play a major role in the legal profession.
eBrevia was named one of the top ten transactional support services companies to watch in 2018 by Disruptor Daily. Disruptor Daily writes that “eBrevia artificial intelligence is unprecedented in its ability to automate contract review” and that "eBrevia is changing the way the legal industry reviews its contracts.”
Ned Gannon, eBrevia’s CEO, joined a panel entitled Deep Dive into New Accounting Standards as part of the 21st Annual SEC Hot Topics Institute sponsored by Donnelley Financial Solutions in Cleveland, OH. The panel of legal and accounting experts focused on implementation of the revenue recognition (ASC 606/IFRS 15) and lease capitalization (ASC 842/IFRS 16) accounting standards. One of the major pain points in the implementation process for complying with each of these standards is the review and extraction of data from large volumes of customer contracts and leases respectively. eBrevia’s machine learning software is well-suited to assist with this task. Other panelists included Richard Stovsky, PwC, Gerard Emery, EY, and Marybeth Shamrock, KPMG.
In partnership with Donnelley Financial Solutions, Preethy Prakash, eBrevia’s Director of Account Management, presented a CLE course entitled “Artificial Intelligence and Contract Review” for the Nashville chapter of the Association of Corporate Counsel. The CLE was held at HCA's headquarters, and described the origins of artificial intelligence, how it works, and implications for the legal industry today.
At Farella Braun + Martel's 11th Annual Client MCLE Day in San Francisco, CA, eBrevia's co-founder and COO, Adam Nguyen, presented eBrevia's solutions and capabilities as part of a panel entitled, "Harnessing the Power of Artificial Intelligence". Attendees learned how artificial intelligence can help organizations spend less time on tedious drudge work and more time on high value lawyering.
Ned Gannon, eBrevia’s CEO, joined a panel entitled Current Accounting Issues as part of the 13th Annual Corporate Securities Forum in Philadelphia, PA. The panel of legal and accounting experts focused on implementation of the revenue recognition (ASC 606/IFRS 15) and lease capitalization (ASC 842/IFRS 16) accounting standards. A significant bottleneck in the implementation process for complying with each of these standards is the review and extraction of data from large volumes of customer contracts and leases respectively. eBrevia’s machine learning software is used to accelerate this aspect of the process while improving accuracy. Other panelists included Jill McCormack, PwC, Peter Bibles, EisnerAmper LLP, Jeffrey DiGiovanni, The Pine Hill Group, and Dennis Johnson, Qlik.
The Clear Law Institute featured eBrevia's co-founder and COO, Adam Nguyen, as an instructor for its course, “Structuring Commercial Agreements for New Products and Services in Transformative Industries – Artificial Intelligence, Cloud Computing, the Sharing Economy and More”. The course provides information on how to navigate requests from business clients relating to new technological paradigms. A recording of the webinar can be accessed via ClearLawInstitute.com
Leading global law firm Baker McKenzie announced the selection of eBrevia as its Artificial Intelligence tool of choice to be used on M&A and other transactional work for its global clients. The Firm is combining its legal expertise with eBrevia’s industry-leading artificial intelligence to assist in performing contract analysis across a significant portion of its global Due Diligence work delivering accurate and efficient contract review in Asia, North America and Europe. Many Baker McKenzie offices are tailoring eBrevia’s machine learning to individual practice groups and jurisdictions. Paul Rawlinson, global chair of Baker McKenzie says: "Digitization, Artificial intelligence and Machine Learning are all very real and the legal industry is right in the middle of the changes they will bring. Being truly innovative means listening to clients and understanding the challenges they face - so we can adapt and make sure the service we provide fits not just for today's technological challenges but also for the future."
Related coverage from Legal IT Insider:
Baker McKenzie selects eBrevia for contract review after threeway competitive pitch
eBrevia was selected as one of the top hundred disruptive legal companies by Disruptor Daily. According to Disruptor Daily, eBrevia “has the potential to single-handedly disrupt more industries(arguably) than any company on this list.”
Ned Gannon, eBrevia’s CEO, joined a panel of four other successful entrepreneurs from the classes of ’92, ’02, and ’12 at the Harvard Law School 2017 Reunion to discuss founding and growing companies, transitioning from a lawyer to entrepreneur, and legal technology. The audience which included Harvard Law alumni from around the world benefited from the panel’s diverse set of experiences and candid comments.
In an article entitled “No Corner Offices in the Law Firms of the Future (And That's Not a Bad Thing!)” the Recorder describes how technology is changing the practice of law and influencing law firm office space needs. The article states “Paralegals and first year associates are often expected to wade through enormous amounts of often-unstructured data, and this is, of course, a massive time sink. But new versions of AI can wade through and analyze this data effectively, freeing up humans to do the more cerebral work. AI can also be trained to help predict litigation and search documents for concepts instead of keywords, leading to more sophisticated search practices that will in turn eliminate the necessity for document review. For example, the company eBrevia uses AI to speed up the industry-standard processes of contract analysis, due diligence, and lease abstraction—all of which can suck up huge chunks of time (and blow through the client's budget).”
A recent article entitled “Robots aren’t automating the jobs we want them to” highlights the somewhat counterintuitive results related to which jobs are susceptible to automation and which are not. With respect to the legal industry, the article states “The practice of law requires many years of studying and understanding laws, cases, and other legal precedence. Recent advances in AI have made the automation of those tasks possible; to date, case law, contract law, and advocacy law have seen the most automation….eBrevia uses AI to extract data from contracts to accelerate diligence, contract analysis, and other related applications.”
Adam Nguyen recently taught the course, “Artificial Intelligence in Legal Knowledge Management”, via LawLine.com. The course served as an introduction to AI’s use for legal research and knowledge management. Topics included how research challenges for litigators, diligence and management agreements, intellectual property rights, cloud security, and ethical issues relate to the implementation of artificial intelligence. This course can be purchased at LawLine.com
In this report from On The Road, host Monica Bay talks with eBrevia founder and CEO Ned Gannon, Allegory founder and CEO Alma Asay, and Alt Legal founder and CEO Nehal Madhani about the Above the Law Legal Innovation Awards. In addition to discussing their companies and the applications for their legal technologies, the group provides advice to other entrepreneurs looking to refine how they market their products.
eBrevia and Donnelley Financial Solutions are deepening a strategic partnership that will make legal due diligence faster, more accurate, and secure for users of Donnelley's Venue Data Room. The partnership reflects Donnelley Financial Solutions' commitment to providing the most fit for purpose and advanced technology to meet the needs of dealmakers worldwide.
Venue Contract Analytics, part of the Venue Deal Solutions suite, uses eBrevia machine learning technology to make contract review fast, accurate, and effective.