AI, deep learning in particular, has been a hot topic over the past few years. This technology has been transforming entire industries with its ability to recognize hidden patterns in troves of unstructured data and to make accurate decisions based on the learned patterns and commonalities. Today, it is impossible to imagine a marketplace not using deep learning to match the user’s preferences with new offers, based on the previous browsing behavior, or a search engine not utilizing the latest neural network architecture to make a correct assessment of what the user is asking about.
The legal industry is very traditional, even in such innovative markets as Sweden and Norway, but soon enough it will be impossible to imagine a legal business, such as a law firm, to operate without using AI tools. The reason is as simple as this – artificial intelligence makes workflows faster for a lower cost, without compromising on quality. One particular area where AI has been very transformative is legal document review. What takes a few hours for a qualified lawyer takes a few seconds for a well-trained algorithm, with the same or even more accurate results, not to mention additional insights AI can provide such as cross-document links and dependencies. The added value for clients is obvious, and it is just a matter of time before using AI tools becomes a de-facto standard for law firms and one of the key metrics for selecting a legal services provider by clients.
The team behind the recently founded Maigon.io started their journey in Legal AI a few years back, as part of the software development unit at Synch, the Scandinavian leading digital law firm with offices in Stockholm (HQ), Copenhagen, and Silicon Valley. Having built AI solutions like Maigon PPC, which instantly reviews privacy policies for GDPR compliance, and Maigon DPA, a corporate solution for comprehensive GDPR compliance review of lengthy and complex data processing agreements, we were overwhelmed with positive feedback from our customers. For them, the key value – faster results and same or higher accuracy for a lower price. This was one of the major reasons why Maigon.io was founded earlier this year – a clear validation by clients. Success stories like Maigon DPA making document review much faster for Dustin, Maigon DPA supporting the work of the legal and sourcing departments of Tele2, and Maigon PPC reaching the milestone of 3700 privacy policies submitted from more than 70 countries, contributed in a major way to the confidence in our ability to grow in the Legal AI space.
Having Maigon.io as a separate venture also felt more practical and allowed for more flexibility: developing and providing legal AI solutions and services as a law firm is more difficult due to the strict rules of the Swedish Bar Association.
Now, we are on the mission to automate repetitive legal work, such as the above-mentioned document review. Pragmatically, we see ourselves as one of those companies who are building the future of legal work by iterative innovation and releasing new tools which truly transform the way legal work is conducted. To take a peek at how transformative our solutions can be and what an amazing technological progress the legal profession is going through right now, read our recent article about our new legal drafting model, which is based on the latest neural network architecture and is capable of drafting grammatically and semantically correct legal texts indistinguishable from a real lawyer.
For Maigon.io, as well as for any other early-stage company, being part of a growing startup ecosystem is very important. And we are proud to be operating within the Epicenter Oslo community. To support it, we are providing free usage quotas of Maigon PPC and Maigon DPA to the companies-members of Epicenter Oslo. These are the perfect tools to have for your in-house privacy lawyers. Reach out to email@example.com to request your credentials. And check out all our solutions on their website.