Legal AI Trends - DLA Piper elevates AI and Data Science to the C-suite

DataPlus AI
May 15, 2024
3
min read

Latest Updates on Law Firms Using AI - May 15, 2024

1. DLA PiperThe firm has appointed Niresh Rajah as its Chief Data and AI Officer, a newly established role, as the firm continues to build Data Science and AI practices into the firm's foundations.

2. Addleshaw Goddard - Members of the firm's Innovation Group spoke to Artificial Lawyer about how they've handled the new wave of legal AI and what they've learned so far.

3. Lander & Rogers - The firm recently announced their new cohort of tech startups for its 2024 LawTech Hub incubator

4. Stephenson HarwoodThe firm recently unveiled a strategic partnership with Harvey AI. The firm is also working with a partner to build custom GenAI technology solutions and is selectively identifying existing technology products to enhance the delivery of services to clients.

**More firms using AI will be shared each week, but you can visit our insights page on dataplus.ai/insights to find a growing list of firms.

DataPlus AI use cases across client acquisition and origination of new matters

1. Get talking points that drive new client matters when researching people, companies, and industries.

2. Analyze, query, and summarize PDFs, Videos, and Websites of clients or competitors.

3. Get executive summaries and talking points when generating full-fledged reports of executives, companies, and industries.

4. Get client, practice, and industry news summarized.

**To learn about client acquisition and origination of new matters reach out to hello@dataplus.ai or sign up for a demo and access.

Blog

Paul Weiss Assesses the Value of AI

**For more insights visit www.dataplus.ai/insights

 

Jargon-Free AI Concepts

1. Annotation  - The process of labeling data with additional information to help machine learning algorithms understand and learn.

2. Conversational AI - A subfield of AI that focuses on developing systems that can understand and generate human-like language and conduct a back-and-forth conversation.

3. Instruction-tuning - An approach where a pre-trained model is adapted to perform specific tasks by providing a set of guidelines or directives that outline the desired operation.

4. Latency - The time delay between when an AI system receives an input and generates the corresponding output.

5. Overfitting - A problem that occurs when a model is too complex, performing well on the training data, but poorly on unseen data.

**For more AI concepts for legal BD visit www.dataplus.ai/insights/the-a-z-of-ai-for-legal-business-development.

Latest AI News

1. Docusign announced it will acquire CLM Provider Lexion for $165m in cash to strengthen its position in Intelligent Agreement Management by adding Lexion's generative AI capabilities to the Docusign IAM platform.

2. Legal Industry Experts launched 'Legal Data Intelligence', a "framework" or "model" outlining step-by-step guidelines for how a legal department might identify and use data to complete legal tasks in a more efficient way.

3. London-based Definely, a contract drafting and review company has raised a Series A funding of $7 million.

4. Sullivan & Cromwell announced that they have formalized its AI practice. The firm has appointed a three-pronged leadership team to steer the practice.

5. Hence Technologies is launching AI software to help law firms with geopolitical risks.

Thanks for reading.

The DataPlus AI Team

DataPlus AI — New Matter Origination Platform for Law Firms

DataPlus is a client acquisition and new matter origination platform that allows legal professionals to 1) search, 2) analyze, and 3) generate high-quality and thought-provoking insights and talking points that lead to new client matters.

By leveraging DataPlus, legal business development professionals can streamline their client acquisition efforts and gather deep insights about their current and prospective clients, industries, and markets. To learn more about DataPlus and start driving new matters, sign up to try the DataPlus platform today.

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