Artificial Intelligence (AI) leaders and experts in Enterprise Search and Knowledge Management solutions, RAVN Systems, is blending the world of tech and law with their latest AI endeavors: a self-service robot that promises big things for the legal industry. Through the use of a self-service AI portal, RAVN Systems’ newest tech allows law firms to train an AI robot to perform any custom tasks necessary.
The robot, known as RAVN Extract Direct, is a self-service version of the London company’s older model RAVN Extract, which allowed users to use AI technology to automatically summarize, analyze, and extract key information from documents. The distinction of RAVN Extract Direct’s self-service feature is integral, as it’s what enables clients to be in complete control of the information obtained by the robot.
RAVN’s AI robot gives clients a more nuanced AI experience by allowing them to have complete control over the platform. Clients can physically train the robot on how to read given documents, what documents to read, and what key points of interest (KPIs) should be extracted from the given documents. This can be done by configuring the system to handle a range of document sets and physically choosing the KPIs.
The AI robot can then automatically read, interpret, and extract key information based upon individual user presets from a very high number of documents. And because the AI robot can be tailored depending upon many different variables, it can also handle a range of very different document sets as well, such as due diligence exercises, contract analysis, review of financial documents and commercial real estate, lease forms, and more.
By giving complete control to the user and allowing individual clients to train the AI robot to their specific preferences, RAVN says clients can speed up their data extraction process and increase productivity within their organization. COO at RAVN Systems, Sjoerd Smeets, says that the AI robot was developed as a direct response to what law firms were continuously asking for; a way to increase response times and improve client service.
As the next step in what Smeets calls cognitive innovation, RAVNS Extract Direct aims to put the ultimate AI control in the user’s hands. And as another disruptive technology begins to emerge in legal, how law firms choose to respond to such transformative  tech will depend entirely on them. October 20th will officially mark the release of RAVN’s AI robot into the world of law.
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