Big Four firm, PwC, has announced a joint business relationship with legal AI company eBrevia, to accelerate the application of machine learning across a wide range of unstructured data use cases.
The news follows the recent announcement of a long term relationship with Thomson Reuters to provide the company’s managed legal services arm and its clients with legal AI tech for doc review.
PwC said that with eBrevia they will provide services to corporate and financial sector clients in relation to high volume review in connection with GDPR, Brexit, lease accounting standards IFRS 16 and ASC 842, revenue recognition standards IFRS 15 and ASC 606, as well as mergers and acquisitions, divestitures, financings, and real estate portfolio review – in fact a very broad range of applications.
PwC also works with other legal AI tech providers, including Seal Software for example. Kira Systems has also had a long standing relationship with another Big Four firm, Deloitte.
Nevertheless, eBrevia’s relationship with such a major professional services business is significant and expands the AI company’s reach globally. It also further increases the level of competition in the market for high volume AI-led review, which as noted above includes M&A work.
Alexandre Blanc, a PwC Principal, said of the deal: ‘Integrating eBrevia with our solutions has been instrumental in our drive to innovate and deliver greater value to PwC’s clients. Our solutions were digitally-enabled and significantly benefited from the software’s machine learning capabilities, its ease of use, accuracy and speed.’
‘This has differentiated us in the market, and we look forward to further incorporating eBrevia into PwC’s existing solutions and innovation strategies,’ he added.
Adam Nguyen, eBrevia’s Co-Founder & COO, commented: ‘We are thrilled that clients have benefited from the combination of PwC’s deep domain expertise and eBrevia’s cutting-edge machine learning technology.’
And to conclude, Jacob Mundt, eBrevia’s Co-Founder & CTO, who has been working closely with a number of PwC teams, added: ‘Artificial intelligence is changing the game. Having worked with PwC to serve their clients, we are helping to address real market needs and building solutions that wouldn’t have been possible a few years ago, with humans or machines. We’re excited to continue our work with PwC to train the next generation of AI and amplify PwC’s competitive advantages.’
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