Artificial intelligence should become an assistant for lawyers.
(Photo: Getty Images)
Dusseldorf Harvey is stirring up the market for lawyers and tax consultants: A few weeks ago, the consulting and auditing company PwC and the associated law firm PwC Legal and the major law firm Allen & Overy gained global access to one of the most exciting start-ups for so-called legal tech applications secured from the USA. Why is?
The initial situation: Large quantities of complex texts
One of the routine tasks of lawyers and tax consultants is to analyze large amounts of complex texts and data. It can be about contracts, compliance with legal regulations, receivables management or the so-called due diligence in transactions. The documents are extensive and mostly written in legal terminology.
Furthermore, one of the core tasks of lawyers is to work with legal texts, administrative instructions and judgements. There are always innovations, especially in the regulatory environment. It is a great challenge for lawyers and tax experts to acquire this knowledge and make it usable for the client.
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