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By Apac CIO Outlook | Tuesday, May 14, 2019
The three significant assets that underpin all legal firms are their lawyers, clients, and knowledge. While law firms know that they need to train up their lawyers and cultivate their clients, little has been done to manage their collective knowledge, which they have amassed from their lawyers through the years. Singapore-based INTELLLEX is governed by the mission of creating an intelligent platform that allows lawyers to manage knowledge assets that can help firms save costs and drive revenue. Recently, INTELLLEX has emerged as the winner of 2018 challenge for a legal tech startup to join Thomson Reuters Labs Incubator.
INTELLLEX will be a part of Thomson Reuters Labs Incubator Program, launched in 2017 that provides startups with the opportunities to enter a minimum three-month partnership. Thomson Reuters Lab includes a global team of data scientists, software engineers and research scientists from UK, USA, Canada, and Switzerland. Their team assists their customers, startups and the world-class universities to develop innovative solutions for the emerging challenges businesses face today.
Chang Zi Qian, co-founder, and CEO of INTELLLEX says, “The drive to push for innovation within a particular industry must involve an entire ecosystem. The partnership with Thomson Reuters is a strong validation of the potential of our technology. We are honored to be selected by the Thomson Reuters Labs Incubator. The team is looking forward to co-drive the proof of concept project with the Thomson Reuters team over the next few months.”
The award-winner INTELLLEX provides a cloud-based knowledge library that allows legal personnel to access prior work product organized by legal concepts and document type. INTELLLEX uses natural language processing (NLP) and neural networks to develop AI algorithms that automatically categorizes prior work product along with legal dimensions like- legal issues, legal queries or any document type. The automatic categorization eliminates the time-consuming process that initially knowledge management professionals perform while they categorize priority wok product manually.
Jim Leason, Customer proposition Lead in the Legal Professionals Europe business of Thomson Reuters says, “INTELLLEX brilliantly brings together the power of artificial intelligence technology with the more basic need of law firms to organize, search and retrieve their knowledge in an efficient way. We are excited to explore a proof of concept where we may be able to enrich INTELLLEX’s auto-categorization algorithms with ontologies and taxonomies that we have developed here in our Europe legal research and know how solutions.”