Law

Neural networks can disempower human workers: the case for human intervention amidst rapid AI adoption

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Neural networks have become the alchemy of our age, the search for a magical, mystical process that allows you to turn a pile of data into gold. It is widely seen as a silver bullet that can generate new insights and expert decisions on an unprecedented speed and scale. Yet this ignores the reality that ‘deep learning’ systems are difficult to create or audit and most organisations lack the necessary in-house expertise or ‘data hygiene’ to use it effectively.

To read the full article, see Neural networks can disempower human workers: the case for human intervention amidst rapid AI adoption on Digitalisation World. 

 

 

 

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Artificial intelligence qualification helps law firm implement AI-powered business systems

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Businesses have identified a serious AI skills gap, which 69% of enterprises have described as “moderate, major or extreme” due to the difficulty involved in finding skilled people to staff their new AI-driven business models.

Read the full article, Artificial intelligence qualification helps law firm implement AI-powered business systems on Computer Weekly.

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Explainable AI: Dissecting the development of auditable artificial intelligence

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Ben Taylor, CTO of Rainbird, discusses the issues of transparency in the way that AI operates – especially when it comes to algorithms which make financial, legal or healthcare decisions

Read the full article, Explainable AI: Dissecting the development of auditable artificial intelligence on Computing.

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How AI can simplify mergers and acquisitions

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CTO of Rainbird, Ben Taylor, is featured in IT Pro on the importance of auditability in automated M&A decisions:

“If a financial institution gave incorrect advice that led to a failed merger, it might be difficult to tell how the neural network got the decision wrong.”

Read the full article, How AI can simplify mergers and acquisitions, on IT Pro.

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AI-powered automation can transform legal practises into client-centric firms of the future

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According to Thomson Reuters, the use of alternative legal service providers (ALSPs) “is now a $10 billion market and growing.”

For traditional legal practices wanting to engage and compete for new, digitally driven clients, becoming more client-centric is key. 37% of clients and 43% of small businesses now turn to the internet for legal providers; catering to this demand for fast, convenient service will ‘make or break’ the success of firms. By automating time-intensive manual processes such as reviewing legislation, lawyers can free up valuable time to focus on providing tailored, high quality customer service to their clients.

So are legal departments and firms ready for such a shift in traditional practices? It’s no secret that change is happening, but emerging technologies can be intimidating for legal professionals whose expertise is in law, not knowledge maps and automation. There is a sense of urgency in the sector, emphasised by Deloitte’s recent estimation that the tipping point for changing work demographics in the legal profession is approaching as soon as 2020.

At Rainbird, our AI-powered automation platform provides a unique approach to digital transformation for legal firms struggling to adapt. Through a formal certification programme which leads to a three-stage artificial intelligence qualification, employees can positively embrace technological change. One recent organisation to undergo the process is international law firm Taylor Wessing.

“Anyone new joining the legal profession probably has some exposure to AI already as all the training establishments and universities are talking about it, but anyone who’s been here more than 4 or 5 years has never had any education on it”, said Kevin Harris – IT Director at Taylor Wessing – of the Rainbird implementation process. “This gives us a way where those who haven’t gone through a modern degree programme can get exposure to at least a level of knowledge.”  

Rainbird CEO Ben Taylor (see header image) discussed how legal practices can make the most of the recent AI boom as keynote speaker at the recent British Legal Technology Forum in London. “With the right understanding and execution,” he explained, “every law firm can become a tech company.”

Follow the link for video footage of the talk.

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Rainbird is Crossing The Pond

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This winter Rainbird is embarking on another stateside visit marked by an appearance at AI Summit New York. We’ll be spanning the East Coast of the country from 3rd to 13th December – and we’re not coming just for scenery. The purpose of our visit: to enhance our US chapter and further engage with like-minded collaborators, as we aim to transform the business landscape of the future.

Combine human expertise with AI-powered automation

Wherever strategic decisions are made and expertise is consistently required, Rainbird can slot into the backbone of an organisation, integrated with APIs or RPA and accessed via consultative chatbots.


Improving fraud detection

Nothing beats human understanding when trying to investigate the nuances of potential fraud cases, and this understanding is exactly what Rainbird allows you to scale. Watch COO and fraud expert James Loft talking to Lloyds Bank about the evolution of merchant fraud, and how prevention is no longer just about security; streamlined prevention is crucial for a frictionless customer experience.

 

 


Revolutionising trading

The boom in cryptocurrencies is changing the face of the financial sector as we
know it, and Rainbird is being deployed in the engine room of that change.
In one of our most innovative projects to date, we provided the backbone
for a world-first in the finance industry: an AI-brokered trade via a virtual assistant.

 

 

 


Self-service legal advice

By automating the process of reviewing legislation and identifying customer needs,
Rainbird is a tool that can allow lawyers to focus on doing what they do best: using
their nous and know-how to offer a great service to their clients. Follow the link to
read about our work in legal tech with Taylor Wessing, or check out coverage of our
appearance as sponsor of this year’s London Law Expo – Europe’s largest legal conference.

 

 

 


Empowering better healthcare

Providing high-quality, customised healthcare to patients is sadly not always a possibility. The demand for specialists far outweighs the supply, and the cost of their service outweighs most patients’ budgets. In the case of our work with community healthcare service client Fluid Motion, there simply weren’t enough quality physiotherapists and osteopaths to go around for musculoskeletal condition sufferers. But by encoding the expertise of health specialists in a Rainbird knowledge map and making it available at scale, patients can have wider access to tailored treatment plans.

 

 


Explainability

Regardless of the use case for Rainbird – whether automating care plans, assessing insurance claims, or making legal recommendations – the decisions it makes are always explainable via an in-built audit trail, making it an ideal choice for regulated industries. In today’s compliance-driven world, you cannot automate important decision-making without being able to articulate why a judgement was made.

Collaborate with thought leaders

Rainbird is home to forward thinkers – and we invite others to join us in the activity. As a client, you’ll be in the capable hands of a rapidly growing business with the sagacity to navigate a rapidly changing marketplace. As a partner, you’ll be pushing the boundaries of business technology with some of the UK’s most preeminent thinkers and actors.

Take our co-founders as an example:


Aside from acting as the driving force behind Rainbird’s unique automated decision-making platform, our CEO Ben Taylor (left, in parliament) contributes to AI policy debate in the UK government, taking a seat on the All Party Parliamentary Group for AI (APPGI).

Ben is one of the leading proponents of ethical, explainable AI technology, and encourages values that inspire public trust in new technology.

 

Executive Chairman James Duez (below) is a trailblazing entrepreneur whose selection by Grant Thornton as one of their Faces of a Vibrant Economy is fresh off the presses.

And as recent selectees on the London Stock Exchange Group’s prestigious ELITE ecosystem, you can be sure you’ll be in the company of the UK’s best in AI and automation.

But most importantly of all, we’re interested in you.

What are the areas your business can improve in? Our implementation team can help you pinpoint pain points and build targeted solutions.

Where do the strengths in your business lie? By modelling your most valuable expertise in a Rainbird knowledge map, together we can capture and scale them.

 

 

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Rainbird joins London Stock Exchange Group (LSEG) ELITE programme

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Through the ELITE ecosystem Rainbird gains access to specialist business education from Imperial College London and tailored advice across a range of areas, including strategic planning, talent, governance and preparation for investment.

There will also be opportunities to collaborate and share ideas with exciting private growth companies, entrepreneurs, business leaders, corporate advisory and investor communities.

Having turned five in 2018 the company has already demonstrated significant growth and increased customer value. With access to the advisory support and leading capital markets network, ELITE will further enable Rainbird persevere through challenges and opportunities of a growing business.

“Rainbird is honoured to be part of the London Stock Exchange ELITE program,” said James Duez, executive chairman at Rainbird. “The company has been focused on scaling up customer value with an enhanced Leadership team that brings together various business insights. This programme is an excellent opportunity to further continue our growth at an accelerated pace.”

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London Law Expo 2018

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This year at the London Law expo, we were exhibiting our work in legaltech with Taylor Wessing at the London LawExpo. AI-powered automation can be the key to maximising the expertise of legal teams and streamlining the way their firms work.

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How can law firms get the best use out of AI?

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You need only scan the current legal news cycle to see that the industry is abuzz with anticipation for AI transformation. But while the majority of firms are intent on incorporating AI into their businesses, by and large the most crucial part is still missing: implementation.

The Law Gazette reported recently that in a survey of law firm leaders, 73% agreed that firms should integrate AI to get ahead by 2025, but only 53% said they planned to implement it. Various other reports, including research by business services provider Intapp, indicate that the vast majority of law firms are not investing in technology fast enough to meet accelerating client demands.

All the signs are suggesting that the AI-fuelled excitement is certainly there in the legal sector, but that it’s yet to be followed by wide-scale execution. It’s difficult to pinpoint the exact reason for this, but there may be a familiar problem at play here: many firms are ready to innovate with AI but, as is the case in so many industries, aren’t sure how best to use it yet.

The reality is that there is an array of pain points that can be resolved with new technology: document tagging, contract analysis, dynamic pricing, due diligence, and small claims processing are just some of the time-consuming tasks that could be streamlined with the right AI-powered solution. Many of these tasks are more time-consuming than they need to be. In-house legal departments spend up to 50% of their time renewing contracts as basic as a Non-Disclosure Agreement – these are surely lawyer hours that could be better spent providing clients with great service.

Going beyond task automation, firms have the opportunity to adopt decision-making platforms with the capacity to reason in the way that a human does. Basing their logic on theoretical human logic rather than large datasets, these systems are able to make personalised recommendations and provide insights for customers tailored to their legal circumstance, taking into account a multitude of factors.

It’s in this area that Rainbird is currently collaborating with Taylor Wessing. To build a system capable of assessing how each client is affected by different parts of the Modern Slavery Act, we sat down with Taylor Wessing’s top specialists to encode their expertise into a Rainbird model. The result is a self-service tool that automates a previously time- and resource-consuming assessment process, freeing up Taylor Wessing’s lawyers to focus on higher value services for their clients. For a more in-depth exploration of that project, follow this link.

 

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AI Congress 2018

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