Information Technology
Robin AI Unveils New Features to its Robin Reports Product to Fully Automate the Analysis of Thousands of Contracts at a Time
Today's product news is paired with Robin AI's " State of Legal AI 2024 Report ." The survey finds that 94% of General Counsel have identified generative AI opportunities in their teams, leading to increased tech spending. But the failure of big law firms to deliver generative AI benefits to their clients sets the stage for legal AI companies to replace law firms in more legal tasks in 2025.
The new version of Robin Reports allows a company to audit thousands of documents, with results in minutes — saving lawyers hundreds of hours of work each year. There is no implementation time when using Reports.
Legal and investment teams can now build their own reports within the Robin AI web platform, including from a new template library. Reports also:
One of Robin's U.S.-based biotech customers suffered a data breach, and used Reports to analyze nearly 10,000 enterprise customer contracts to identify obligations. Reports allowed the company's legal team to resolve their notification obligations 93% faster — in under 24 hours — compared to humans working alone. That saved the company 7,500 hours of legal work and around $2.5 million .
"No other legal AI product can deliver 'time to value' as quickly as Robin Reports," said CEO and co-founder of Robin AI Richard Robinson.
Only 6% of law firm clients agree they are getting cost savings and other direct benefits of generative AI through their external counsel, per a recent Deloitte survey.
"We're coming for elite law firms, by helping businesses to take back control of work that until now they've relied on external counsel for," Robinson said. "We're offering a completely self-serve product that can audit thousands of documents at once. There is no other way for big enterprises to take this volume of data and use Legal AI to structure the data and get a much faster grip on obligations and due diligence."
Any Robin customer can try the product for free today.
Since the launch of Robin Reports in the summer of 2024, the company has doubled the size of its U.S. operation, driven by strong customer demand among Fortune 2000 and private markets finance firms for the product. For more information visit robinai.com/reports
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