Legal Sector: Streamline M&A with AI Document Review!
Legal Sector: Transforming Document Review with AI Efficiency! | Case Study
A long-standing Warsaw Law Firm specializing in intricate projects faced a colossal task: meticulously reviewing 4,000+ client documents for a significant Merger and Acquisition involving a prestigious energy company.
We implemented our AIdot System in a secure AWS environment to expedite this process efficiently. Rapid adjustments ensured the accurate extraction of Polish text from scanned documents. Lawyers and paralegals, following brief training, seamlessly uploaded legal documents and posed inquiries, ensuring data integrity and completeness during the due diligence process.
Client
Environment
Objective
The Core objective was to use Artificial Intelligence and its modules, such as Machine Learning and Natural Language Processing, to read and understand the vast amounts of clients’ data that the Law Firm had to process as part of the Merger and Acquisition accurately and in a short possible time.
Let’s split those objectives into Four Pillars
— SAVINGS – normally that process would take over three months as each document was over 50 pages long, a scanned document (sometimes pages are not aligned, and you can’t use Ctrl + F to find the information). The manual operation was the only known option, which meant that some legal professionals had to be diverted from their high-value work into a mundane and repetitive document review. We have avoided this by embracing Artificial Intelligence
— GROWTH – as of the imminent deadlines and ready available AI solution, we have deployed the AIdot System for this project – to satisfy the Law Firm’s requirements. However, after initial testing and processing the workload, legal professionals observed that they could use this as an advantage in other projects, as another business stream for its operations.
— MITIGATING RISKS – what is the biggest risk that all lawyers are afraid of – to make a mistake? Artificial Intelligence is like an expert that constantly, relentlessly checks the information. AI performs 2 billion operations in the blink of an eye to ensure everything is correct and does that 24/7. Accuracy is paramount in the Legal Sector, and AI delivers this every time — ‘Belt and Braces’
— AUTOMATION – apart from uploading documents and specifying an array of questions in the template, no input was required from the user. All the answers were exported into a spreadsheet to provide a precise and consistent report on the data processed.
What was done
We already had a deployment-ready SaaS – AIdot System, dedicated to Document Comparison or Data Review. However, we had to adjust the system to meet crucial criteria:
— In this particular case — 90% of the documents were PDF scans in the Polish language. We had to ensure that the Polish alphabet was recognised for the OCR (Optical Character Recognition). In fact, that was a crucial discovery, as it opened a path for other languages. Additionally, we have tidied up all the unnecessary items from scanned documents, such as visible paper clips, unrecognisable stamps, etc. That was important for another step – translation.
— Artificial Intelligence (AI) and Natural Language Understanding (NLU) work best in English; why? In the case that we work for our clients, we were dealing with thousands of lengthy documents, and they wanted to find out precise answers to complex questions. AIdot System managed this very well in English, and we could meet the requirements each time.
— Using colour coding, we have automatically highlighted the most important text for the lawyers, such as places, addresses, people, and dates, to draw their attention at a glance. Because of the OCR and Translation, we have made an automatic feature for those tasks. Now all the data was easily searchable (before a person had to read the document manually). Documents were available in extracted highlighted Polish and English versions, respectively.
–Once the legal professionals were asking relevant questions, we added an extended option to pinpoint where in the document that information came from and what paragraph.
–Document Comparing – the Core feature. Lawyers and paralegals could upload all the documentation in scope into a secure PCI DSS. Compare those documents against each other and specify an array of questions to retrieve all needed information into a qualified spreadsheet. The whole process was fully automated as the Artificial Intelligence completed all the work in the background. To compare 100 documents in one go took just a few minutes.
Achievement
Your Challenges, AI Solutions: Legal Work Perfected
Our AIdot System – ‘Document Comparing’ SaaS solution assisted Warsaw Law Firm in reading, comprehending and reviewing over 4,000 complex documents. That was a massive advantage to meeting tight deadlines in one of the most significant Mergers and Acquisition projects in a prominent market space. Lawyers appreciated the high-level accuracy of the Artificial Intelligence (AI) solution.
Call to Action:
Join the ranks of forward-thinking professionals enhancing their operations. Secure your meeting to explore the endless possibilities with our AI Document Processing solution. Still on the fence? Try it FREE and witness the difference. Don’t wait—take the plunge today!
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