Startup Sandstone has secured $30 million in funding to develop artificial intelligence for legal departments. Its platform focuses on automating monotonous tasks such as contract review and responding to routine inquiries. It helps lawyers dedicate time to more complex matters, although ideally, those inquiries wouldn't need to be made in the first place.
How AI Processes Clauses and FAQs 🤖
Sandstone's system uses language models trained on legal documents to identify key clauses, risks, and obligations in contracts. It also integrates a chatbot that answers common employee questions about internal policies or regulations. The technology is based on supervised learning and natural language processing, allowing information extraction without human intervention. The startup claims it reduces review time by up to 70% on repetitive tasks.
The Robot Lawyer Dreaming of Retiring Humans 😅
Sure, now an AI can read those 200-page contracts no one wanted to review. But if the company has such a busy legal department, maybe the problem isn't the lack of automation, but rather that someone should stop signing agreements with clauses written in hieroglyphics. Meanwhile, Sandstone promises its bot won't ask for a raise or complain about the office coffee.