AI for Document Creation
How AI is being used to produce better quality documents, quicker, in today’s law firms
Peter Wallqvist, iManage
10/8/18 2I© Copyright 2018 iManage.
Agenda
AI For Document CreationHow AI is being used to produce better quality documents, quicker, in today’s law firms
• Key learnings from AI in law
• What problems can effectively be addressed?
• Deeper look at how the capabilities are used in KM and document creation
• Demo of integration with Word
10/8/18 3I© Copyright 2018 iManage.
As Artificial Intelligence Matures, Key Learnings Emerge
Practical AI is the application of AI to specific demonstrated use cases that deliver high ROI – innovation in a repeatable way
AI is best embedded Best when focused Cognitive Task Automation• Into a user experience
• Tightest integration
• Specific problems
• The narrower the better
• Not job replacement
10/8/18 4I© Copyright 2018 iManage.
Practical AI Addresses Key Firm Pressures
Automate Document Review Tasks
• Quickly classify documents to get them to the right attorney
• Automate data extraction
• Higher accuracy and consistency than manual –save up to 75%
Staff Augmentation & Rush Projects Can Impact
Cost & Quality
AI Enabled Playbook / Precedent
adherence
• Suggests clauses for efficiency and consistency
• Make prior knowledge accessible to fee earners
• Reduce risks by being aware of previous agreements
Inconsistent Clauses Introduce Risk
Enable New Business Opportunities
• Identify clients affected by new laws
• Efficiently review employment contracts
Too Much Data Makes Some Projects
Economically Unfeasible
AI Platform Addresses Needs Firm-wide
• Deploy capabilities across firm on single platform
• Network effects improves work across firms departments and practice areas
Knowledge acquired during legal work is not
captured
0101001001001011
10/8/18 5I© Copyright 2018 iManage.
Typical Classification and Extraction capabilityParty
Clause
Date
Concept
Currency
• Filter and understand§ Type and language of document§ Structure of document§ Search and tagging
• Extract and automate§ Clauses and key data§ Self Serve: AI trained by end users§ Pre-built by experts; reusable
• Analyze and act§ Export to line of business systems§ Expose results in KM Systems§ Embed into legal processes
10/8/18 6I© Copyright 2018 iManage.
Document ReviewsQuickly review and summarize large volumes of documents
• Reduce time and cost of review tasks§ Dedicated AI powered review application
increases margins of routine review work
• Out-of-the-box or custom extractors§ Use pre-built or train your own re-usable
extractors for specific use cases
• Extract structured data§ Extract clauses and specific structured data -
dates, tables, currencies, etc.
• Create lasting knowledge assets§ Extracted clauses and structured elements
can be used in other contexts
10/8/18 7I© Copyright 2018 iManage.
Document Review
LMA SFA
Party A
Party B
Availability Period(s)
Commitments
Covenants
Extraction Detail
Definition ValueParty A Borrower CoParty B Bank 1, Bank 2...Currency USDTotal Commitments $100,000,000Covenants Leverage, Interest
Cover…Loan Types TLA, TLB, RCF…Tables extracted £ % $Definitions 100s
Review
Business DriverEfficiencies reviewing and summarising documents for clients for Due Diligence and Contract Intelligence
Output toReview interface Due Diligence reports via Excel / WordInternal KM clause libraries
10/8/18 8I© Copyright 2018 iManage.
Practice Process AutomationAutomate routine tasks within existing processes in the organization
• Integrate automation in existing processes§ Apply automated extraction without changing
existing processes
• Increase Productivity§ Remove time consuming and unprofitable
routine manual steps
• Increase staff engagement and morale
• Demonstrate to clients they are not paying for commodity work
10/8/18 9I© Copyright 2018 iManage.
Clause Library / Knowledge ManagementMake full use of your prior knowledge to create better content faster
• Create a clause library§ Apply extraction and classification to Knowledge
Library, Precedents or specific document types and collections
• Make knowledge more accessible to fee earners§ Improve advice and value to clients§ Stay current and relevant to clients by knowing
“what’s market”
• Surface the Knowledge where most appropriate
10/8/18 10I© Copyright 2018 iManage.
Clause Library /Knowledge Management
SPA
Buyer
Seller
Warranties
Sell Price
Adjusted clauses
Extraction Detail
Definition ValueBuyer Union Carbide
Seller PT Energy
Currency USDPrice $120,000,000
Warranties Seller shall warrant…
Counterparty law firm Ajuba LawAdjusted Clauses Liability…
Definitions 100s
Findable
Business DriverMaking prior Knowledge easier and more accessible to the fee earners, improving advice and value to clients
Output toInformation access and KM systems
Structured repositories like DMS systems
BPM / Expert systems / Contract Automation tools
10/8/18 11I© Copyright 2018 iManage.
Clause Library
10/8/18 12I© Copyright 2018 iManage.
Clause Library
Q & A
Thank You
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