Loading...
DraftWise, an AI firm intelligence platform, is making waves in the legal industry with its secure search and drafting platform designed to enhance contract workflows and firm-wide knowledge sharing. This innovative technology aims to revolutionize how legal professionals handle document drafting and analysis, enabling them to deliver top-notch transactional work to their clients efficiently and on their preferred timelines.
James Ding, co-founder and CEO of DraftWise, highlighted the challenges law firms face when accessing relevant information from their vast document repositories and leveraging attorney knowledge effectively. He compared the traditional approach to searching for specific details within countless documents to finding needles in a haystack. Ding expressed his company’s commitment to transforming this situation: “We want to help lawyers deliver best-in-class transactional work for their clients on the timelines their clients want, whether it comes to negotiating with data, understanding the market trends, or instantly answering client questions.”
The DraftWise platform combines a range of powerful features within Microsoft Word, including search capabilities, knowledge management, split-second redline capabilities, proofreading, and “golden material” curation. It seamlessly integrates with a law firm’s Document Management System (DMS) and knowledge resources, harnessing the power of machine learning models to analyze trends and client preferences rapidly. Furthermore, DraftWise promotes collaboration by allowing users to work with a firm’s best precedent contracts.
Similar to the functionality of ChatGPT, the DraftWise AI leverages firm intelligence and historical knowledge to provide prompt and accurate responses. This ensures that the results are relevant to a firm’s specific contracts and client precedents, while maintaining an unbiased perspective. The platform also provides secure access to EDGAR documents, further streamlining the research process.
One notable aspect that distinguishes DraftWise from existing legal technology powered by GPT models is its commitment to privacy and data protection. Unlike other solutions that require firms to share their data with third parties, including OpenAI, DraftWise operates on boxed and frozen LLMs (Legal Language Models) that do not use sensitive customer information as training data. Law firms have full control over the AI’s access and can define specific rules regarding what the platform can and cannot see or utilize. These guardrails ensure complete privacy for both the firm’s and the client’s data.
Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!
Emre Ozen, co-founder and CTO of DraftWise, emphasized the importance of data security and compliance with client requirements. He stated, “The DraftWise AI is built on a secure LLM applied to firm data to produce curated and substantiated results. This approach is also differentiated from other LLM offerings because it respects the ethical walls, access controls, and client data restrictions law firms must comply with. This is inherently more secure than using public data and open AI, and it is far more useful in the contract editing and negotiating process.”
DraftWise has already gained traction and garnered clients from prestigious law firms such as Orrick, Herrington & Sutcliffe LLP, Katten Muchin Rosenman LLP, Womble Bond Dickinson (US) LLP, Gunderson Dettmer LLP, Gilbert + Tobin, and Mishcon de Reya LLP. Wendy Curtis, Chief Innovation Officer at Orrick, Herrington & Sutcliffe LLP, emphasized the importance of security and compliance when evaluating AI solutions, noting that DraftWise’s use of secure LLM models provides enhanced protection for client data. She expressed excitement about the platform’s capabilities and looked forward to future solutions from DraftWise.
As DraftWise continues to disrupt the legal tech landscape, it is poised to empower law firms worldwide with its secure generative AI technology. By enabling efficient search and analysis, seamless integration with existing systems, and uncompromising data privacy, DraftWise is set to transform the way legal professionals work, enhancing productivity and delivering exceptional results for their clients.
