Global law firm Dentons has teamed up with applied AI developer RAVN Systems to examine contracts that could be affected by Britain’s exit from the EU and its legal and regulatory umbrella.
The project has been undertaken via Dentons’ technology development company, Nextlaw Labs.
In a joint statement Dentons and RAVN said: ‘The technology automatically reviews high volumes of contract documentation to identify provisions that could potentially be impacted by the UK’s secession from the EU.’
‘Using a bespoke algorithm that has been developed by RAVN with input from Dentons’ subject matter experts, a report is produced highlighting areas that merit further investigation and where appropriate giving legal advice as to the steps they should consider.’
Jeremy Cohen, Dentons’ CEO for the UK, Middle East and Africa Region, added: ‘Companies are looking for legal advice that ‘cuts through the noise’ and helps to deliver practical and cost effective guidance [on the impact of Brexit].’
Peter Wallqvist, CEO at RAVN Systems concluded: ‘We are excited to be developing this innovation with Dentons to address the practical legal challenges Brexit may bring.’
RAVN has also cut deals with several other law firms, including the well documented example of helping City firm BLP’s real estate team with extracting key information from high volumes of lease documentation.