Legal AI company, Diligen, has announced an integration with data sharing and collaboration platform, Box, in a move that will enable the major company’s many corporate users to tap Diligen’s NLP and ML capabilities for doc review.
Box, which has revenues of over $0.5 billion and lists many businesses as customers – including Prudential and KKR, recently launched a ‘Box Skills’ facility which allows other companies offering doc analytics to become official partners.
This then allows the customers of Box to make use of AI capabilities, in this case of Diligen, directly through the Box platform.
It’s a smart move on Diligen’s part, which also has a close relationship with NetDocuments already, as it seeks to open up the potential market for its technology and tap the wider corporate market for AI review. That said, several law firms also use Box.
It also signals that the battle for legal AI success is going to be increasingly tied to data collaboration platforms and data sharing. For example, Kira Systems integrates with HighQ’s AI hub, while one of the reasons for the RAVN deal with iManage was that iManage is ‘where all the documents are‘.
In this case, with the Diligen/Box integration users can:
- Drag and drop files into a Box folder to be processed by Diligen
- View documents with key clause language extracted and displayed alongside the page
- Automatically identify over 200 different provision types across the areas of M&A due diligence, lease review, tax and finance, LIBOR and confidentiality.
- Quickly see, for example, all terms, termination, assignment or change of control language in their contracts summarised alongside the page of a document, saving time searching for important language.
And as noted, this can all be done from within the Box environment, which is convenient, especially for corporate users who may not be that fussed about AI or tech in general, but just want to get the data they want to find.
Is this a big deal? Potentially. Box says that it has more than 41 million users and 85,000 businesses in total that use it for storing and sharing documents and other unstructured data. This includes about 70% of the Fortune 500.
The multi-million dollar question is whether users of Box will then use Diligen when it comes to doc review? Hard to tell right now. But, placing AI review capabilities in front of so many potential clients has got to help. That said, Box could partner with other AI companies that do something similar.
In short, as ever with the legal AI market, there is everything to play for.
You can check it out here: Diligen for Box app