Image : LawGeex
– What is the context? We are seeing disruption across multiple industries by increasingly sophisticated uses of Artificial Intelligence. The field of law is no exception!
– What is the study about? 20 top US corporate lawyers with decades of experience in corporate law and contract review competed against an artificial intelligence program (LawGeex AI). Their task was to spot issues in five Non-Disclosure Agreements (NDAs)
– What are study results? LawGeex AI achieved an average 94% accuracy rate, higher than the lawyers who achieved an average rate of 85%. It took the lawyers an average of 92 minutes to complete the NDA issue spotting, compared to 26 seconds for the LawGeex AI
– So what? In the near future, AI has the potential to deal efficiently with high-volume and low-risk contracts, which will help clients get better pricing and allow lawyers to focus on more complex projects.
– Want to learn more? The original study by LawGeex
Published by Wael Mohamed Aaminou
While living in the US, the 2008 financial crisis’ impact on the economy and people pushed me to question the purpose of my job as a financial consultant. I ultimately shifted gears to focus my advisory efforts on fostering a more ethical finance that puts the real economy, social welfare, and environment preservation at the center. With assignments in Northwestern Africa, Middle Eastern and Southeast Asian regions, this journey led me to challenge and shape Impact finance and Islamic finance ecosystems in as varied sectors as energy, healthcare, education, and agriculture.
Working in more than 10 countries has taught me that sustainable development challenges are complex, and that a viable solution would start by prioritizing efforts on most pressing issues when resources are limited. This is particularly true for climate change which transversally impacts virtually all SDGs. Today, as a sustainability finance advisor, I mobilize people and resources toward the adaptive challenge of building together the sustainable world that our children and planet deserve.
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