Law firm's AI platform assesses Brexit risk
International law firm Pinsent Masons is helping clients respond to the challenges posed by Brexit with a new artificial intelligence platform.
The firm’s commercial contracts solution aims to help clients identify risk in existing portfolios and address Brexit risk in future contracts while also identifying any risks in the supply chain.
Pinsent Masons’ director of knowledge and innovation delivery David Halliwell said it took a client-oriented approach to the technology.
“A number of law firms are partnering with third party organisations to consider how to take off the shelf AI technology and apply it to legal challenges faced by law firms,” he said.
“We have taken a different approach, beginning with the challenges clients need to address and developing an AI solution to suit through our own R&D team.
“The technology has been successfully applied across a number of transactions and becomes all the more compelling when integrated with the firm’s wider suite of technology platforms [SmartDelivery and Cerico].”
Clare Francis is a partner in the commercial team at Pinsent Masons who has led on the development of the Brexit Contracting Solution product.
She said: “In the uncertain world of Brexit, our clients have asked us how best to manage the risk posed by that continuing uncertainty through their contracts and we wanted to develop a truly comprehensive response.
“By leveraging the firm’s various technologies we can build certainty, efficiency and consistency into an overall solution.
“That enables clients to guard against risks but also consider what competitive advantage can be gained through astute contracting.
“The result is an altogether better outcome for the client.”
The announcement comes following the launch of BASe by Pinsent Masons, a crowdfunded Brexit advisory service which provides subscribers with responses to Brexit-related legal queries within 48 hours.
Clients including Royal London and Lend Lease are among those to have already signed up to the service.