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.”
In partnership with Donnelley Financial Solutions, eBrevia presented a CLE course entitled “Artificial Intelligence and Contract Review” for the Knoxville chapter of the Association of Corporate Counsel. Ned Gannon, eBrevia’s CEO, described the history of machine learning, how it works, its limitations, effects on legal industry business models, and applications for contract analytics. Many audience members had experience in or strong interest in incorporating artificial intelligence into a variety of aspects of their businesses.
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.”
Legal Talk Network
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.
Ned Gannon, eBrevia’s CEO, joined a panel of real estate technology entrepreneurs to discuss real estate’s frontier tech at the mipim PropTech Summit. The panel which also included David Eisenberg, Founder & CEO, Floored, Ragnar Lifthrasir, Founder, International Blockchain Real Estate Association, and Dr. Jeff Wilson, CEO, Kasita, focused on advances in some of the most innovative technology in commercial real estate today. The summit was part of the broader NYC Real Estate Tech Week.
eBrevia is among a select group of cutting-edge technology companies using artificial intelligence behind-the-scenes to help lawyers complete an array of daily tasks.
Find out six ways artificial intelligence like eBrevia is helping lawyers--without them even noticing--in areas from document management to employee management, here.
Thomson Reuters and MaRS LegalX presented the Emerging Legal Technology Forum at MaRS Discovery District in Toronto, a premier forum showcasing top legal industry professionals and change leaders taking a comprehensive look at ways to use technology to revolutionize legal practice.
The program examined the current state of technologies available and the impact they have in the firm, how contract and document automation change the transactional practice, the design change requirements to leverage technology to improve delivery of legal services, and the power in leveraging legal data analytics.
The panel entitled “Object Lesson: How Contract Automation is Changing the Transactional Practice” featured:
Ned Gannon, Chief Executive Officer, eBrevia, Inc
Fred Headon, Assistant General Counsel – Labor and Employment Law, Air Canada
Mara Nickerson, Chief Knowledge Officer, Osler, Hoskin & Harcourt LLP
Mark Tamminga, Partner, Leader of Innovation Initiatives, Gowlings WLG
Andy Wishart, Global Head – ContractExpress, Thomson Reuters
In coordination with event sponsor RR Donnelley, Ned Gannon, eBrevia’s CEO, presents The Latest Techniques and Tools to Streamline Due Diligence at the American Bar Association’s 2016 M&A Committee Conference in Laguna Beach, CA. The talk covers how artificial intelligence is being applied on the transactional side of the legal industry and focuses on contract analytics specifically. The audience consists of approximately 150 corporate attorneys, and the presentation includes a lively Q&A session.
Artificial intelligence is evolving the nature of lawyering. Legal analyst Julie Sobowale explains how in this cover story for the American Bar Association. Here’s Sobowale’s take on AI in law:
Artificial intelligence is changing the way lawyers think, the way they do business and the way they interact with clients…It is the next great hope that will revolutionize the legal profession.
Sobowale notes some standout companies harnessing AI in ways that will transform the legal profession for the better, among them ROSS, NexLP, Riverview Law, and eBrevia. “What makes eBrevia different,” says Sobowale, “is the program’s ability to learn how to do searches [within contracts] more efficiently.”
eBrevia COO Adam Nguyen explains how lawyers can benefit from using AI tools:
Technology that automates tedious tasks, while not a panacea, can free up lawyers’ time to perform higher-level, more intellectually satisfying work which clients would be willing to pay for…It’s clear we need a solution that increases lawyers’ productivity while helping to deliver legal services at the level expected by clients.
With the AI revolution on the horizon, in Sobowale’s words, “maybe it’s not so scary after all.”
At ABA TechShow 2016 in Chicago, Adam Nguyen, eBrevia's Co-Founder, speaks on a panel with Fastcase's CEO Ed Walters on how law firms can start using data and analytics for strategic advantage. The panel, Data is the New Oil – Lessons from Standard Oil, Smart Diapers, and Uber for Law Firms, is part of TechShow's Tech Fundamentals track.
On a separate panel with attorney Jon Tobin of Counsel for Creatives, Adam explores practical, time-saving ways for lawyers to collaborate on documents during Realtime Collaboration Isn’t Just for Conference Rooms Anymore. The session is part of TechShow's Tech Beyond Walls track.
In a world where new technology and an anything’s possible ‘Silicon Valley’ mentality are pushing the boundaries of even the more traditional professions, career possibilities for lawyers are growing. In this issue of The Practicefrom the Harvard Law School Center on the Legal Profession, eBrevia CEO Ned Gannon is exemplified as one lawyer following the path less traveled. Ned says:
When I graduated from law school, I ended up practicing corporate law…I got to witness some really great entrepreneurs build up these companies…That drew me into the business side, and I always thought to myself, “Hey, wouldn’t it be great to sit on that side of the table at some point?”
As for his professional identity being a lawyer-turned-entrepreneur, Ned comments:
I consider myself a part of the legal profession. And I like to think that, as the legal profession is changing, we’re on the forefront in terms of helping attorneys to adapt to some of these changes.
If you have an subscription with The Practice, you can read the full article “Drawing Your Own Path: Forging New Identities in the Profession” here.
In AngelList today, there are over 1,000 LegalTech companies compared to a mere 15 in 2009. Sue Banerjee, eBrevia's VP of Client Relations, joins other legal technology experts in Palo Alto, Ca, to explain how and why the industry has grown so dramatically.
The panel discusses the biggest legal tech trends, economics of legal tech valuations, and key performance indicators that legal organizations should look at when implementing innovative technologies. Attendees include in-house lawyers, outside counsels and licensing professionals interacting with legal departments.
Ned Gannon, eBrevia's CEO, answers questions about eBrevia's contract review platform -- how it began, who the software is helping the most, and why machine learning is an essential component -- in this new Evolve Law podcast. Metrics on the benefits eBrevia brings to lawyers practicing contract review are also discussed in the episode.
To see the case study Ned mentions in the podcast, in which one Reitler Kailas & Rosenblatt corporate attorney saved a weekend of contract review, go here.
Evolve Law is a community for legal innovators, hosting events and content that spark ingenuity in the legal industry. You can subscribe to their podcast on iTunes or wherever you get your podcasts to get regular updates on the newest legal trends, innovations, and ideas. To find out more about Evolve Law or to become a member, go to evolvelawnow.com.
How will technology impact the practice of law in two, five, ten years from now? On Friday, February 26, Adam Nguyen, eBrevia's Co-Founder, speaks alongside Bridgewater Deputy General Counsel Sylvia Khatcherian and LexisNexis Vice President Lynn Reynolds on the changes legal professionals should expect not only in the practice of law, but also in clients' business models.
Hosted by Debevoise & Plimpton, the panel discussion is part of the International Bar Association's Women’s Leadership Summit in New York City, February 25 - 26, 2016. The two-day event covers a range of topics, from meeting client expectations to where legal technology is headed.
From risk assessment, to corporate management, to document analytics, the legal industry is seeing an array of innovative tools being developed for its unique needs. Enterprise software site Capterra has identified five entrepreneurs unafraid to challenge the status quo, with eBrevia CEO Ned Gannon among them. Check out the full list to see some of the ways entrepreneurs are bringing speed and automation to law and get the inside scoop on eBrevia's founding story.
Venture capital firm FirstMark Capital has come out with the fourth annual Big Data Landscape, with eBrevia among big data innovators such as Google, Cloudera, and MongoDB on the map. The landscape’s creator Matt Turck demystifies the big data ecosystem and the role of artificial intelligence in this post: Is Big Data Still a Thing? (The answer: you bet.)
Find eBrevia and other companies using big data to transform the legal industry under Applications – Legal.