Thomson Reuters Labs has chosen INTELLLEX, a startup that provides artificial intelligence (AI) powered knowledge management solutions for legal professionals, to join its Incubator programme.
Thomson Reuters Labs Incubator, which was launched in 2017, gives selected startups the opportunity to enter into a minimum three-month co-innovation partnership with the opportunity to network with other startups in the programme and a vast roster of industry, technology and business experts.
In addition, the startups have access to specialist workshops to review, refine and test business ideas, gain brand exposure, and the ability to leverage the global reach of Thomson Reuters through marketing spotlight opportunities and events—as well as access to Thomson Reuters internal experts, legal databases, and online business development tools.
Following a rigorous selection process, INTELLLEX joins the Incubator programme at a time when technology innovation within the legal industry continues to thrive and contribute to improvements in the delivery of legal services.
Based in Singapore, INTELLLEX provides a cloud-based knowledge library that enables legal professionals to access prior work product organised by legal concepts and document type.
INTELLLEX uses natural language processing and neural networks to develop AI algorithms which can automatically categorise prior work product along legal dimensions such as legal issues, legal questions, or document type. This automatic categorisation eliminates the time-consuming process that knowledge management professionals perform when categorising prior work product manually.
Jim Leason, Customer Proposition Lead in the Legal Professionals Europe business of Thomson Reuters, said: “Our Thomson Reuters Labs Incubator is an important part of our efforts to deliver the technological solutions needed by law firms of the future. INTELLLEX brilliantly brings together the power of artificial intelligence technology with the more basic need of law firms to organise, 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-categorisation algorithms with ontologies and taxonomies that we have developed here in our Europe legal research and know how solutions”.
“Through working with select startups, we are also better able to accelerate our own projects and identify new trends in technology—it’s a two-way street. The development of legal technology is moving fast and law firms are having to invest just to stay competitive. Any firm that falls behind in using technology may find it difficult to catch up”, says Leason.
For the press release, please click here.