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Tuesday, April 16, 2024

Genie AI Introduces Risk Review Feature to its Legal Assistant

Genie AI, a rapidly growing legaltech company, has unveiled a new feature for its AI legal assistant. While Genie AI was already capable of parsing complex legal documents and answering legal queries, it can now conduct comprehensive reviews of entire documents on a clause-by-clause basis, comprehending and elucidating all potential risks.

Traditional contract analysis has historically been a time-consuming process prone to human errors. Genie AI’s latest enhancement drastically accelerates this process. What would have taken a legal professional days to review and annotate in a 50-page document can now be marked up from scratch in just three minutes. Upon document upload, Genie AI users are just one click away from initiating the document review, receiving tailored responses that consider the entire document, the involved parties, and the contextual details pertaining to the user’s specific legal matter.

Nitish Mutha, CTO and co-founder of Genie AI, explained, “We have designed the user experience to be highly interactive, mirroring exactly how you would draft and review a document with another colleague or your lawyer. This is just the start of our move towards multimodal AI, where we offer interactions far beyond chat.”

A recent survey conducted by LexisNexis involving 1000 legal professionals revealed that 95% of them anticipate AI’s impact on the practice of law, and 59% recognise significant potential in leveraging AI for drafting legal documents. Genie AI is at the forefront of this transformation, with over 1300 law firms, in-house legal teams, and legal professionals, including paralegals, actively using their AI Legal Assistant. This solution has also gained traction among 30,000 businesses worldwide.

Liam O’Brian, Head of IT & Data Protection Officer for a UK charity, attested to the utility of Genie AI’s Risk Review feature, stating, “RAG Review provides a really thorough insight into the risks within a legal document. It’s incredibly useful for me and I found the comments it generated on high risk clauses very helpful.”

During its beta phase, Genie AI is offering free access to its AI Legal Assistant. Interested users can register and utilise this powerful tool at https://app.genieai.co/signup.

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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