Last Updated on: 21st November 2023, 10:02 pm
Genie AI, a leading AI legal technology company based in London, has unveiled a significant addition to its AI legal assistant, enabling the creation of legal contracts from scratch across more than 30 jurisdictions.
This AI legal assistant revolutionises the process of drafting bespoke legal documents, requiring users to answer only three simple questions.
For centuries, businesses have depended on legal firms to craft tailored agreements, particularly in the absence of standard templates. With Genie AI’s innovative “Create” feature, legal professionals and businesses can now generate legal documents in significantly less time compared to engaging external lawyers.
The method to create any legal document from scratch mirrors the interactive experience with a law firm or attorney:
- Select the desired contract type to draft
- Choose the relevant governing law
- Provide detailed specifications for the contract’s content Since its beta release mere three days ago, the feature has been used to produce customised Software Licence Agreements, Employment Agreements, Loan Agreements, Service Agreements, Tenancy Agreements, Court Documents, among hundreds of others.
During a demonstration at LawtechUK’s Generative AI event at Clifford Chance, Genie AI CEO Rafie Faruq said: “Foundation models like OpenAI don’t generate long form agreements, are often inconsistent throughout the document and references to law may not be relevant to your jurisdiction. We’ve innovated across all of these areas with our AI create algorithm, plus you can use our AI review skill afterwards to check the quality of the document – saving you hours if not weeks of time!”
Genie’s “Create” and “Review” functionalities together assist organisations in crafting top-notch legal agreements in just five minutes instead of five days, eliminating the need for external legal consultation. This equates to a 100-fold increase in speed and is currently offered at no cost.
While in beta, Genie AI’s AI Legal Assistant remains free for use. Interested users can sign up at https://app.genieai.co/signup
Currently, the legal quality of the documents is verified for the UK and US jurisdictions only.
Soon, Genie is set to introduce an enhanced step-by-step version of “Create,” providing a more interactive experience than the typical form “wizard,” enabling users to see and modify their bespoke document as they go.
