Legal AI and text analysis company ayfie has added an end-to-end workflow management solution to boost its legal production line capabilities. ‘ayfie Accelerator’ can also be used as a stand-alone product.
It’s an interesting move as it’s a response to how other AI companies are integrating with document management and workflow systems. I.e. AI can do the extraction and analysis – but it helps if this special capability is integrated into a wider workflow system, rather than acting as a ‘point solution’.
Arguably this is the same logic that drove the RAVN/imanage deal and has seen companies such as Kira Systems work closely with HighQ’s AI Hub, among others.
Ayfie said that the new feature offers streamlined, team-based workflows, and users can leverage statistical sampling, conceptual analysis, report graphs and automated learning from the process.
It also provides a customisable dashboard, intuitive user interface, consistent and repeatable workflows and collaborative tools.
Users can access documents from any device including desktops, mobile phones, and tablets running iOS, Windows or Android operating systems, and can leave comments and share annotations with team members in real-time.
Robert Wescott, chief revenue officer at ayfie, said of the development: ‘The launch of ayfie Accelerator is a milestone for our business. Our mission is to empower modern professionals across industries and geographies with the powerful tools and insights they need.’
‘ayfie Accelerator’s functionality enables workflows in litigation review, contract management and review and privilege review. With this new solution, users can finally streamline processes in a collaborative, scalable solution, which ultimately impacts productivity and a business’s bottom line,’ he added.
The company also highlighted that with the addition of ayfie Accelerator, ayfie’s suite of products now supports ‘the full lifecycle of information governance, including sourcing, identifying, sorting and securing, to improve productivity and support regulatory compliance across businesses both large and small’.
For example, ayfie’s product suite features: ayfie Locator for knowledge discovery, ayfie Supervisor for compliance workflows (e.g. GDPR), and ayfie Inspector for content insights.
All good stuff. However, some readers may wonder where ayfie suddenly came from. They’ve actually been around for some time and have developed their own ‘linguistic’ approach to text analysis which they say is a lot more granular than that of other legal AI companies and their ML approaches. They’ve worked in other sectors for a while, but are now seeking to gain market share in the legal sector.
Interestingly the company is Scandinavian at heart, with the company headquartered in Oslo, Norway with offices in New York, Fort Lauderdale, Washington, D.C. in the US, Munich, Germany and also Stockholm in Sweden.
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