Shoosmiths have developed a simple AI tool to review commercial contracts. With ‘no assembly required’ for in-house legal teams, it simplifies routine activities and makes their delivery efficient and systematic. Under the brand Cia®️, this service can benefit from continuous improvement and refinements as well as release a long-term stream of innovation. With this innovative tool’s rapid response and pragmatic advice, more deals are getting agreed in less time than using conventional methods.
The judges were unanimously impressed with a different approach to AI led by good senior leadership involvement and delivering impressive results. Client feedback is strong and resources on website excellent.
One suggestion to potentially strengthen the case might be to better describe the degree of innovation and differentiation with other AI applications in the same space.
Altogether, a remarkable best ‘new solutions’ award winner.
Quote from the live interview - full video below
“After two years, we have got the accuracy level of Cia®️, our tool to review commercial contracts, up into high 90% whereas lawyers tend to clock in somewhere in mid 80%, so the AI is starting to outperform human beings on certain tasks.”
Simon McArdle, Partner
Watson Farley & Williams
WFW is commended for having developed a well-received multi-jurisdictional index that helps clients assess cross-border aviation restructuring processes and predict future risks for aviation financing and leasing transactions.