20 Top Lawyers Were Beaten by Legal AI in a Controlled Study
We wrote about LawGeex back in April when the Tel Aviv, Israel-based artificial intelligence and Software as a Service (SaaS) platform startup raised $12 million in funding to disrupt the $700 billion legal services market. The startup uses AI to remove the legal bottleneck of reviewing and approving everyday business contracts before signing. LawGeex’s AI-based technology has proven to be effective and in a controlled study, shown to be better than top-notch lawyers.
In a controlled study carried out with leading legal academics and experts, 20 experienced US-trained lawyers were pitted against the LawGeex Artificial Intelligence algorithm. The study shows that lawyers are no match for AI. In the landmark study, LawGeex AI achieves an average 94% accuracy rate, higher than the lawyers who achieved an average rate of 85%. It took the lawyers an average of 92 minutes to complete the NDA issue spotting, compared to 26 seconds for the LawGeex AI. The longest time taken by a lawyer to complete the test was 156 minutes, and the shortest time was 51 minutes. The study made waves around the world and was covered across global media.
The findings are detailed in a 40-page study of how AI has overtaken top lawyers for the first time in accurately spotting risks in everyday business contracts. Founded in 2014 by international lawyer Noory Bechor and leading AI expert Ilan Admon, LawGeex enables businesses to remove the contract bottleneck, helping them focus on high value tasks instead of getting lost in paperwork. Below is an infographic summary of the findings.