Genie AI, a legaltech start-up recently secured £2M seed funding for its SuperDrafter AI drafting tool.
Whilst it's great legaltech is now on VC's radars, from a lawyer's perspective, the far more interesting point for me is the fact that one of the angel investors is none other than Lord Neuberger himself, former President of the Supreme Court.
Richard Susskind OBE writes persuasively in Tomorrow's Lawyers about the benefits of adopting automation in the legal profession whilst maintaining the continued value of bespoke advice.
We're quick to fear that automation = a lower headcount but that doesn't have to be the case. Automation of the more administrative tasks (like redacting or digging out an example of something similar you did previously) gives us more time to focus on the technical points to provide a better and more bespoke service.
If Lord Neuberger is on board, so am I.
“Lawyers always tell us ‘I know I’ve done something like that before,’ but in large firms it’s a real pain to dig past drafting out of emails, document management systems and the minds of senior lawyers,” says Genie AI co-founder and CEO Rafie Faruq. “SuperDrafter solves this by automatically curating relevant knowledge from around the firm, and recommending clauses to lawyers as they draft, in real time.” The broader idea is that SuperDrafter can enable lawyers to benefit from the “collective intelligence” — both past and present — of an entire law firm. It does this by machine reading thousands of documents confidentially and then analyses variations of the same clause to deuce market standards and allow lawyers to negotiate the best deal for their clients.