The company’s next-generation product allows law firms to securely apply GPT and generative AI to firm DMS data and SEC filings.
NEW YORK, NY / ACCESSWIRE / June 6, 2023 / DraftWise, an AI firm intelligence platform, is announcing its secure search and drafting platform to power contract workflows and firm-wide knowledge sharing for legal professionals.
“Law firms sit on millions of documents and decades of attorney knowledge. Asking associates to look up what points clients accepted before or what happened in similar deals is like asking them to look in a haystack for 10 specific needles,” shared James Ding, co-founder and CEO of DraftWise, “We are about to change that entirely. We want to help lawyers deliver best-in-class transactional work for their clients on the timelines their clients want, whether it comes to negotiating with data, understanding the market trends, or instantly answering client questions.”
DraftWise combines search, knowledge management, split-second redline capabilities, proofreading, and “golden material” curation within Microsoft Word. The platform automatically integrates with a firm’s Document Management System (DMS) and knowledge resources, and it deploys machine learning models to understand trends and client preferences faster and encourage collaboration around a firm’s best precedent contracts.
Similar to ChatGPT functionality, the DraftWise AI will provide responses based on firm intelligence and historical knowledge. This ensures prompt results are accurate, unbiased, and relevant to a firm’s contract and client precedent. In addition to the firm’s data, users can securely access EDGAR documents in the same workflow.
Unlike existing GPT-powered legal technology, DraftWise will not require firms to share their data with third parties, including OpenAI. Instead, the platform is powered by boxed and frozen LLMs that do not use sensitive customer information as training data. This enables law firms to define ground rules around the AI’s access, customizing what the platform can and cannot see and utilize. These guardrails ensure total and complete privacy of firm and customer data.
“Law firms may not want to share their ‘secret sauce’ with third parties and must comply with client requirements around data handling. Open AI and public GPT technologies are not an option for everyone,” shared DraftWise co-founder and CTO, Emre Ozen, “The DraftWise AI is built on a secure LLM applied to firm data to produce curated and substantiated results. This approach is also differentiated from other LLM offerings because it respects the ethical walls, access controls, and client data restrictions that law firms have to comply with. This is inherently more secure than using public data and open AI, and it is far more useful in the contract editing and negotiating process.”
DraftWise supports lawyers at several AmLaw100, Vault 10, and other leading firms across the US, Europe, and Latin America, including, Orrick, Herrington & Sutcliffe LLP, Katten Muchin Rosenman LLP, Womble Bond Dickinson (US) LLP, Gunderson Dettmer LLP, Gilbert + Tobin, and Mishcon de Reya LLP.
“We evaluate all AI for security and compliance with ethical obligations and client requirements and focus on partners using secure LLM models, designed to protect our client data,” shared Wendy Curtis, Chief Innovation Officer at Orrick, Herrington & Sutcliffe LLP, “Draftwise offers a powerful one-two punch, enhancing client and lawyer satisfaction. We look forward to the next solutions they come up with.”
About DraftWise
DraftWise is an AI-powered firm intelligence platform that helps attorneys draft and review contracts faster through access to their firm’s cumulative knowledge and data.
DraftWise was founded by Palantir and Google engineers, James Ding and Emre Ozen, and Clifford Chance lawyer, Ozan Yalti, to bring advanced analytics and data management to the legal space, enabling lawyers to spend more time on the critical task of representing their clients.
You can learn more about the platform at www.draftwise.com.
Company Contact
Sarah Schultz
sarah.schultz@draftwise.com
SOURCE: DraftWise
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