Robin AI’s recent update to its Robin Reports product is transforming the legal sector, particularly in due diligence. By automating the analysis of legal documents, it is quicker and more cost-effective than traditional law firms. CEO Richard Robinson emphasises their goal to challenge established practices, allowing businesses to take control of work that is usually outsourced to law firms.
The updated Robin Reports can now review thousands of legal documents in minutes, significantly improving efficiency. Notably, a biotech company saved $2.5 million and 7,500 legal work hours using the tool to review contracts after a data breach.
The latest version introduces features allowing customisable reports and flexibility to adjust search parameters as business needs and regulations change. As legal departments face pressure to increase efficiency and reduce costs, demand for such technology is rising. Fortune 2000 companies are particularly interested in pushing Robin AI to double its workforce in the U.S.
Traditional law firms must reassess their strategies as AI tools like Robin Reports offer faster, cheaper alternatives for tasks like due diligence and compliance audits. A Deloitte survey indicated only 6% of law firms share AI-driven cost savings with clients, presenting Robin AI with an opporunity to attract businesses unwilling to pay premium rates for routine tasks that can be automated.
source: Legal tech hub
Leave a Reply