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That compared with an average of 85 percent for the lawyers.Don’t expect machines to kill lawyers’ careers though, said Shmuli Goldberg, vice president of marketing at Law Geex.
Bad jokes aside, the lawyers-vs-AI contest involved the review of five previously unseen contracts containing 153 paragraphs of legalese.
The AI software reached 94 percent accuracy in surfacing risks in NDA contracts.
The startup, which has raised about $9 million in funding in total, plans to get into inferencing using GPUs next.
“The learning engine requires a lot of computational power,” Goldberg said.
“This work is the everyday gruntwork, and most lawyers can’t wait for an AI to take it off their plate.” Machines were as much as several hundred times faster, too.
Law Geex AI’s service did the NDA reviews in a blazing 26 seconds, compared with a span of about 1 to 2.5 hours for the lawyers.
The Law Geex AI service spent three years in development and was trained on tens of thousands of contracts.
Law Geex AI relied on Ge Force GTX 1080 Ti GPUs to build and test its models and Tesla P100 GPUs running on AWS with Tensor Flow for its intelligence.
Law Geex, an Israel-based startup focused on automating contract reviews, released a study showing its AI software pummels lawyers in document review accuracy.
The AI service outperformed 20 corporate lawyers at identifying legal risks in nondisclosure agreement contracts. Undisclosed, however, is whether the lawyers involved in the study have sent their billable hours invoices to the machines for payment.
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