A few days ago, the multinational, Wolters Kluwer Legal & Regulatory announced the acquisition of a company that owns AI technology, specially designed for law firms and corporate legal departments. Della AI uses advanced natural language processing (NLP), enabling legal professionals to review, analyze, and process data and information contained in documents by asking questions in multiple languages. The German company has included it as part of the Legisway solution, for corporate legal departments.
At the organizational level, Della AI will become part of the legal software unit of Wolters Kluwer Legal & Regulatory, such as the aforementioned, Legiswayan all-in-one software for corporate legal departments, and kleos, a cloud-based law practice management software for law firms; Y kmaleonprocedural automation platform for lawyers and solicitors.
The founder and CEO of Della AI, Christophe Frèrebeauhas indicated in this regard: “We are very proud to join the Wolters Kluwer family, and we know that they value the potential of Della AI for their customers. Della AI was created to make it easier and faster to find, analyze and extract the data contained in contracts thanks to AI, and we are excited to be able to leverage our experience to help make Legisway even smarter. There is no doubt that being part of Wolters Kluwer will create great opportunities for our customers and partners.”
Alicia Feito: “There are many opportunities to improve our current offer with deep learning and NLP technologies”
Undoubtedly, Artificial Intelligence is going to give a lot to talk about in the coming years, and in all professional sectors. To delve deeper into this field, as well as to find out the implications that AI has in software such as Wolters Kluwer’s, from MuyPymes we have spoken with Alicia Feito, director of the Wolters Kluwer Legal Software business unit in Spain.
MuyPymes: Will the Della AI products improve the WK products or will they be offered as extra services?
Alice Feito: An integrated offer already exists, as customers of Legisway, all-in-one software that meets the needs of corporate legal departments, use Della when importing documents into our platform.
We believe this is just the beginning as there are many opportunities to enhance our current offering with deep learning and NLP technologies. The Legal & Regulatory division has many software and content offerings for law firms and legal departments in many countries, and we see many opportunities to leverage Della technology for the benefit of our clients.
Additionally, now that Della AI is part of Wolters Kluwer, we will continue to develop and invest in Della AI technology and expertise, improving the workflow for legal professionals.
MuyPymes: How do you think the purchase of this company will benefit the WK brand?
Alice Feito: The acquisition involves a breakthrough in engagement of Wolters Kluwer to serve the legal professionals of companies with innovative technologies that improve their productivity and results.
This is another example of continued investment to help deliver the highest value solutions to our customers and advance our market leadership; but it is not the only one, one that was also recent and that was of great interest in Spain was the acquisition in June of last year of the company Level Programs, a Spanish legal software provider, whose main product is Kmaleon, a software platform used by law firms and producers to efficiently manage their files and documents, billing, accounting, etc. As you can see, all our efforts are directed towards this objective that we mentioned, of serving professionals in the legal sector and offering leading solutions in the market.
In particular, the acquisition of Della AI fits into Wolters Kluwer Legal & Regulatory’s strategy to further develop its portfolio of expert solutions and globally expand its offering in the segment of corporate legal departments.
MuyPymes: On a practical level, how does AI help a law firm – or corporate legal department?
Alice Feito: The solution enables legal departments and law firms to review, process, and elaborate the data and information contained in documents.
Della AI creates a differentiated experience/product/advantage, through:
- Scalable, future-proof technology based on Natural Language Processing (“asking contracts questions” in natural language and continually learning from usage reducing the need for machine training).
- Superior Contract AI: Best-in-class precision and accuracy (>95%), based on unique legal and contract knowledge and experience.
- Available in multiple languages and jurisdictions.
- Multiple use cases.
- Out-of-the-box solution.
Thus, this technology helps legal professionals to review contracts in a much faster and more reliable way. You can even ask questions and the tool itself gives you the answers. Has checklists that users can use, as well as being able to add their own.
Also fixes bugsWhether we are talking financial, legal… or even grammar, semantics, syntax, etc. And, in addition, it works in a very intuitive way, similar to a Google search.
Ultimately, Della’s technology or the new deep learning algorithm derived from its technology will help our clients access the right information at the right time, even if it’s stored in complex legal documents.