With AI and machine learning breathing down the neck of the vast quantities of dull contract checking, which currently goes on in many law firms, it’s no wonder startups are training their guns on this sector.
Legaltech is, naturally, driving down the cost of legal work, and the new wave of these startups range from the “Uber of Lawyers” (Lexoo, Linkilaw, Lawbite) that create a lawyer marketplace, to AI-driven services (KIRA, Luminance, ThoughtRiver) that improve efficiencies inside law firms.
Gradually, certain aspects of the law are going to be done better by software companies than law firms. And that applies particularly to contracts.
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