'PocketLaw' is a Stockholm-based startup creating digital, artificial intelligence (AI)-powered solutions for the legal field. The company raised $11 million USD in a Series A round of funding in order to improve and deploy its automation services. PocketLaw focuses on automating monotonous legal tasks that subject-matter experts are often faced with. These tasks involve creating long, drawn-out documents that are essentially compilations and restructurings of other documents.
PocketLaw will allow subject-matter experts to create these documents through an automated process. The worker simply answers a set of questions and instructs the application on what kind of document the worker wants. The application will then create a reliable, high-quality legal document out of the information provided. Additionally, PocketLaw offers solutions for tracking and managing these legal agreements over time.
AI-Powered Legal Tools
PocketLaw is Automating the Legal Document Creation Process
Trend Themes
1. AI-powered Legal Solutions - PocketLaw uses AI to automate monotonous legal tasks and improve legal document creation processes.
2. Legal Tech Automation - AI-powered platforms like PocketLaw are revolutionizing the legal tech industry by streamlining processes and increasing efficiency.
3. Document Management Automation - PocketLaw's solutions for tracking and managing legal agreements over time represents an opportunity for disruptive innovation in document management.
Industry Implications
1. Legal Services - PocketLaw's AI-powered legal solutions have disruptive potential in the legal services industry by reducing costs and increasing efficiency.
2. Technology - The legal tech automation industry is growing rapidly, with AI-powered platforms like PocketLaw representing a potential market for tech companies and startups.
3. Business Management Software - PocketLaw's document management automation features can be integrated into existing business management software programs, providing an opportunity for disruptive innovation in the industry.