In today's article in the FT 'Artifical intelligence disrupting the business of law' ThoughtRiver's Tim Pullan is interviewed about ThoughtRiver's contract intelligence software. The article talks about how in today's legal market, firms will have to be using AI in some form or another in order to compete.
Tim was a partner at London law firm Lawrence Graham until 2006 when he decided to work in Asia for Experian, the credit-checking agency. But later he set up ThoughtRiver, based at law firm Taylor Vinters in Cambridge, to address “core productivity issues” at the heart of the law.
Tim Pullan, founder of ThoughtRiver: “I thought about AI for years and homed in on one particular problem we thought we could solve,”
That area was legal contracts: some corporate clients might minimise risk by focusing on higher-value contracts and ignoring contracts under a certain value. ThoughtRiver’s software uses AI to scan and interpret information from all written contracts used in commercial risk assessments and presents it in a central online dashboard that enables clients to assess risk more easily.
Read full article in the FT.