A new Inc report affirms the existence of software which works at 200 times the pace of human lawyers.
An Overview of the LawGeex Software
The LawGeex company was founded in 2014. LawGeex’s claim to fame comes in the form of the creation of software which employs the use of artificial intelligence to review contracts.The purpose of the foregoing reviews is to pinpoint concealed and undesirable terms and conditions. For decades, lawyers have reviewed legal documents, although the success of the LawGeex software could soon be changing this.
The results and accuracy of the LawGeex software shocked many individuals. On average, attorneys required 92 minutes to examine contracts, while the automated software performed the task within 26 seconds. Moreover, the lawyers’ average accuracy rates amounted to 85% while LawGeex’s accuracy rate reached 94%.
Noory Bechor, a LawGeex co-founder and CEO, shared the motivation behind his decision to create the aforementioned software:
