As AI-powered platforms like Chat GPT and copy.ai are becoming mainstays of producing editorial ranging from simple social media posts to entire term papers, we wanted to see how AI would fare producing a feature story on Pittsburgh Technology Council Member LegalSifter.
Better yet, we wanted to put it up against a professional writer, our very own Content Coordinator Sheena Carroll. We were curious to see how it would perform. Previous experiments were mixed as copy.ai would often make up content or confuse it with something else.
For this experiment, Carroll did her usual thing setting up an interview with Kevin Miller, gathered the facts and wrote her article. For copy.ai we typed the prompt: “Write a magazine-style feature on Pittsburgh-based startup LegalSifter.” Read the results for yourself!
By Sheena Carroll, Pittsburgh Technology Council
Lawyers and laymen can agree on one universal truth: contracts are a PAIN. Unfortunately, contracts are also vital to many facets of modern life. This is especially true in the business realm, where many contracts are negotiated and managed by non-lawyers. LegalSifter’s goal is to make contracts easier for companies to navigate, and they are using the combined intelligence of AI and human expertise to do it.
Founded in 2013, LegalSifter started with a bang. Born out of Carnegie Mellon University, the company quickly attracted thousands of users after being featured in TechCrunch. While their model has changed a bit since then, their mission to make legal services affordable and accessible has not.
From the beginning, LegalSifter has embraced the concept of Combined Intelligence™. The company believes that combining AI and human expertise –also sometimes referred to as “human-in-the-loop”– is the ideal solution to the complexities of contract navigation. The company trains their Sifters with machine learning to identify a specific concept. Their lawyers find hundreds or thousands of examples of that specific concept, while their data science team uses machine learning to find the intangible thread that binds these examples.
“We can’t build a robot lawyer,” says LegalSifter CEO Kevin Miller. “There’s too much empathy, negotiation and tacit knowledge. We can’t replicate that in an AI solution. We like to say that an algorithm plus a person is stronger than either by itself.”
Miller predicts that over time, machine learning will be ubiquitous, but only with a human steering wheel. He compares this to the autopilot function in planes –while heavily used now, it’s a tool that wasn’t perfected overnight. Humans have had millennia to figure out how to work together; comparatively, the world has only spent a few years figuring out how algorithms and humans can collaborate.
But there are several advantages to figuring out this dynamic. With options like LegalSifter, the barrier to entry is lower, making it easier for companies to take advantage of new technologies. No longer will small and mid-sized companies need to either improvise or retain the service of a lawyer, especially when it is not cost-effective.
“The global legal market is a trillion-dollar industry, and it’s virtually all full-service,” Miller explained. “So, we think that as a result, legal services are wholly unaffordable for the vast majority of organizations and consumers than they’d be otherwise if there were self-service and partial service options like everything else that we buy in the consumer and the business market.”
Miller believes that if companies utilize AI-enabled software and services solutions, they will find them to be “frankly cheaper, faster and safer” than the more traditional full-service legal practice they’ve relied upon for decades.
“I think we’ve seen this model work in every function in enterprise, except for legal,” Miller said. “And it’s not the fault of the lawyers. Historically, we haven’t had technology that can do what they do.”
Miller predicts that the global legal service market will experience some major tectonic plate shifts over the next several years, as these full-service institutions start to figure out that there are now better options that they can build.
LegalSifter: Revolutionizing Legal Contract Review with AI
In today’s fast-paced business world, legal contract review can be a time-consuming and costly process. However, Pittsburgh-based LegalSifter is changing the game with its innovative use of artificial intelligence (AI) to streamline the legal contract review process.
Founded in 2013, LegalSifter has quickly established itself as a leader in the legal technology industry, providing businesses with an AI-powered contract review tool that can analyze contracts in a matter of minutes. The company’s platform uses natural language processing and machine learning algorithms to identify potential issues in contracts and provide users with suggestions for improvement.
LegalSifter’s platform is designed to be user-friendly, requiring no specialized training or expertise in legal language. Users simply upload their contracts to the platform and receive a comprehensive analysis within minutes. The platform can identify potential issues such as missing clauses, inconsistent language, and ambiguous terms, among others. The AI technology used by LegalSifter enables the platform to learn and improve over time, providing users with increasingly accurate and relevant suggestions.
The benefits of LegalSifter’s platform are numerous. By streamlining the legal contract review process, businesses can save time and money, allowing them to focus on other critical aspects of their operations. The platform’s AI technology can also help to reduce the risk of errors and inconsistencies in legal contracts, leading to better outcomes for all parties involved.
LegalSifter has attracted clients from a variety of industries, including finance, health care and technology. The company’s platform has been praised for its effectiveness and efficiency, with clients reporting significant improvements in their contract review processes. LegalSifter has also received recognition from industry experts, winning several awards for its innovative use of AI in the legal industry.
In addition to its AI-powered contract review platform, LegalSifter also offers a range of other legal technology solutions, including contract management tools and legal document automation software.
LegalSifter’s use of AI technology to revolutionize the legal contract review process has positioned the company as a leader in the legal technology industry. With its commitment to innovation and user-friendly approach, LegalSifter is poised to continue its rapid growth and make a significant impact on the legal industry.