MinterEllison: innovating document review
Multinational professional services company MinterEllison has made waves with its implementation of iManage RAVN, an AI-powered analysis solution.
The Sydney-based company, often ranked as one of APAC’s foremost law firms, is confident that the iManage product range can dramatically impact clients’ bottom-line, projecting estimated savings of almost AU$2,000 a day over a six-month period.
Commenting on the software, which streamlines the large quantities of data necessary for a document review, Matthew Franks, AI and Emerging Technologies Lead at MinterEllison, said that iManage would save a vast amount of labour.
“The data we received from the client was largely unstructured and uncategorized. From a review perspective, that meant our reviewers would have to look at every single document in that set of half a million files.”
“As the client sends over batches of documents, we can use RAVN to automatically classify them as a particular type of document. That lets us immediately identify the documents that are relevant to our review, and filter out the irrelevant ones,” he said.
Championing AI-driven analytics
Similarly elated by the digital transformation that MinterEllison is undergoing, Gary Adler, Chief Digital Officer, believed that the company’s vision was developing according to plan. “RAVN will reduce the number of FTEs we’ll need to use on this project,” he stated.
“This efficiency aligns with our digital transformation strategy of providing better value to clients while empowering our lawyers to focus on higher-value activities, rather than laborious tasks that are better handled by AI.”
MinterEllison’s adoption of AI is the latest development in a global trend to utilise the technology. Other APAC industry leaders have also detailed the innovative ways in which they’ve implemented it.
Alibaba, the Chinese e-commerce, titan represents the largest online marketplace platform in the world. The company uses AI to predict customer shopping patterns and even to develop ‘smart cities’ powered by AI algorithms to help decrease inner-city congestion.
Alibaba’s capability is driven by its dedicated investment in AI R&D. So far, the company has invested over US$15bn in a three-year research programme, including seven laboratories which are working on machine learning, security and speech processing.
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