DutchMLSchool 2022 - ML in the Legal Sector
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How Machine Learning Transforms and Automates Legal Services, by Arnoud Engelfriet, Co-Founder at Lynn Legal. *Machine Learning School in The Netherlands 2022.
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DutchMLSchool 2022 - ML in the Legal Sector
- 1. How Machine Learning transforms legal services. Arnoud Engelfriet, co-founder and partner Lynn Legal bv
- 2. Hi Arnoud, Can you review this NDA? I’m about to have a meeting, so want to sign quickly. Hello Arnoud, Just checking, is this NDA ok to sign? Showstoppers only, we’re already in discussions with these guys. Hi Arnoud, Can I sign this NDA?? Please let me know urgently Hi Arnoud, Just wanted to confirm this NDA is no problem, I already signed it
- 8. About Lynn Legal We are lawyers who understand technology. More than anyone else, we know how to build software that adds value to practically all legal processes. • Creates practical legal solutions • By people who have a strong background in both the technical and legal field • Years of experience in legal consultancy • Operating in various sectors of industry, including government, healthcare and legal
- 9. How does Lynn work? 1. Submit your document in Word, PDF, RTF or plain text (web, API or e-mail) 2. Automated screening, response within approximately 2 minutes 3. Trained on thousands of source documents, labeled by experienced domain expert lawyers 4. Checked on more than 40 issues, from applicable law to penalty provisions, security requirements, audits, etc. 5. Specific advice for your position 6. Download annotated Word document
- 10. Automated document review in 5 steps 1 •Text extraction 2 •Clause identification 3 •Clause flavoring 4 •Report compilation 5 •Amending document
- 11. Quick poll! What is your company’s position on … a) Maximum liability in your service contracts? b) Contractual penalties in NDAs? c) Audit rights to your data processors? d) Longest acceptable payment term in a customer’s purchasing terms?
- 12. The power of the playbook A legal playbook codifies the business requirements and limits for contract review. Often these are in the lawyer’s head(s). Deploying legal tech forces you to make the rules explicit.
- 13. Playbook per use case
- 14. Pre-check: Give users a feeling of what the human lawyer will say Pre-check: Give users a feeling of what the human lawyer will say Quickscan: If lawyerbot says OK, it’s ok Otherwise send it to the human lawyer Quickscan: If lawyerbot says OK, it’s ok Otherwise send it to the human lawyer Fast lane: If value is low then let lawyerbot review it Otherwise send it to the human lawyer Fast lane: If value is low then let lawyerbot review it Otherwise send it to the human lawyer Preliminary scan: First resolve the issues raised by the lawyerbot. Then send it to the human lawyer. Preliminary scan: First resolve the issues raised by the lawyerbot. Then send it to the human lawyer.
- 15. • Change: high • Risk reduction: high • Cost savings: medium • Change: high • Risk reduction: high • Cost savings: high • Change: low • Risk reduction: medium • Cost savings: medium • Change: minimal • Risk reduction: low • Cost savings: low Precheck Precheck Quickscan Quickscan Preliminary scan Preliminary scan Fast lane Fast lane
- 16. Monthly cost Monthly time spent 0 2000 4000 6000 8000 10000 12000 14000 Manual Lynn 0 10 20 30 40 50 60 70 Manual Lynn Cost and time savings
- 17. Thank you! A.Engelfriet@lynnlegal.ai Linkedin: Arnoud Engelfriet Lynn Legal B.V. Jollemanhof 8a 1019 GW Amsterdam +31 20 229 33 45 info@lynnlegal.ai juriblox.nl lynnlegal.ai