The doc review and unstructured data extraction system will automatically explore data from multiple types of documents across a wide variety of insurance claims to bring new efficiencies to the firm’s client work.
While the news that a legal AI company has won another law firm client is not market-changing, the news that a national UK firm, which sits roughly in the middle of the UK 100, has taken up the use of AI for client work is significant. Although many law firms of all sizes are now piloting AI doc review systems, few medium-size law firms have publicly announced long term deals with AI vendors.
Moreover, unlike several of the UK’s City firms which are making regular use of AI, Keoghs is based in Bolton in the North of England, adding further proof that adoption of AI in the important UK legal market is not just restricted to the M&A powerhouses in the capital. The use of the AI review capability for insurance dispute analysis is also interesting, with several other UK insurance law firms such as Kennedys and Weightmans also currently exploring this area.
Dene Rowe, Partner and Director of Product Development, Keoghs, said: ‘We started developing our own AI platform earlier this year, but a key missing component was how we would look to extract data from unstructured data sources efficiently.’
‘iManage Extract will complement our platform by extracting key information from unstructured documents. Additionally, iManage Extract will …. help create a suite of unique products in the marketplace where significant portions of the litigation process are not processed by humans. We see this as a clear competitive advantage in what is a dynamic market,’ Rowe added.
Peter Wallqvist, Vice President of Strategy, iManage, added: ‘When applied to litigation, AI can be transformative. Keoghs has seen how products like iManage Extract can help them use AI.’
Keoghs will also utilise iManage Extract across a variety of business use cases, including the administrative processing of claims and mining unstructured data for business intelligence and analytics.