Ari Kaplan, an attorney, author, and leading legal industry analyst, spoke with Johannes Stiehler, the CEO of ayfie Group. They discussed the company’s mission, how the appeal of linguistic technology at law firms and corporate legal departments has evolved, and ayfie’s listing on the Merkur Market in Oslo in July of 2020.
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Is this a big deal? For Ayfie, yes, as it shows perhaps what its wider strategy is now, i.e. building out a platform for law firms and corporates. Also, as mentioned, although this deal was in Norway it would be underestimating things to assume that its impact will only be felt locally. And, Ayfie also clearly has business growth on its mind. Under the new management of Stiehler we can expect more growth steps to come.
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NLP-driven document analysis company, ayfie, has listed its shares for public trading – an unusual step for a small legal tech startup that is not part of a larger company.
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AL TV News report – ayfie‘s new CEO, Johannes Stiehler, speaks about the move to list the doc analysis company’s shares.
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ayfie in particular has had a very good start to the stock market life. After the first two days, the stock had risen 49.5 percent, and Thursday the upturn continues.
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On Tuesday morning, text analysis company ayfie Group was listed on Merkur Market. At the time of writing, the stock is trading at 2.48, giving a market value of NOK 263 million.
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Øystein Stray Spetalen grabbed hold of the search and artificial intelligence company ayfie. After a restart, he is rushing to the stock exchange with pricing of 160 million.
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Technology adoption in the legal industry has certainly grown, but there are still barriers to total adoption. To understand those barriers we must ask and answer 3 questions about technological changes and adoption: Why do industries change, how do they chance, and most importantly how do they feel about that change?
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Law firms who have yet to make the jump into newer technologies and telework options now find themselves with a new reality that can cause inefficiency and risk. There are simple areas that are taking time to adopt like using video conferencing, chat, and online document libraries as well as the larger issues of fending off security breaches as lawyers are all forced to work from home. Having to learn all these things at once is daunting and doing it remotely is almost impossible if a lawyer does not have a foundation to build on.
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Norway is not only known for its stunning natural beauty (think glaciers, natural fjords and spectacular Northern Lights), but is often cited for its high standard of living, having taken the number 1 spot for best place to live in the last UN’s Human Development report. Having scanned the local ecosystem for its most promising talent, here is our top pick of Norwegian startups to keep an eye on in 2020.
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In the legal space we can’t afford the luxury of not understanding why something happens because you might have to defend it in court, or you might have to understand why it works in a certain way and potentially correct it using human input.
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In 2020 the legaltech sector will see continued consolidation, whether by acquisition or by smaller start-ups collaborating amongst themselves to pull their point solutions into an integrated platform. Overall the legal sector is still struggling with technology adoption and training machine learning algorithms.
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“Legal tech, from a services perspective and from a subject matter expert perspective, has been a place where the marginalized have gone to live. Women, minorities, basically people who didn’t fit the mold, moved over to tech,” Jeanne Somma, legal insights executive and counsel at ayfie, a search and text analytics solutions company, said.
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... identify documents within an organization that hold personally identifiable information—a function echoed in other forms in software offered by competing tech startup ayfie ...
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... And finally, there will of course be plenty of legal tech companies there. Sponsors at present include, among others: Bryter, ayfie, Neota Logic, LawGeex, ContractPodAi, iManage, Luminance, Tessian, and D2LT. ...
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Oasis announces the adoption of ayfie’s Inspector, bringing ayfie’s powerful AI solution to its extensive network of vendors and service providers. The Oasis/ayfie partnership furthers both companies’ role in revolutionizing the use of technology in discovery by empowering eDiscovery practitioners to leverage cutting edge technology to solve the complicated problems unique to discovery.
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... Artificial Lawyer also spoke to Stiehler during one of the breaks and asked him to elaborate. He said: ‘AI will never in the foreseeable future act like an actual human being because there are so many things that human beings are very good at [like] creativity, creatively connecting context, prior knowledge they have about the world … and AI just [misses] that context, that bigger picture. ...
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Lineal, who provides Digital Forensics, Cyber Security and eDiscovery services, began using ayfie's sophisticated big text analytics platform last month to improve their technology assisted review process for clients. The partnership allows Lineal to benefit from ayfie's deep integration with the review platform Relativity as ayfie's technology is driving various functionality within Relativity such as entity extraction, email threading, and predictive coding. ...
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Since beginning to track the number of publicly highlighted merger, acquisition, and investment (M&A+I) events in the eDiscovery ecosystem, ComplexDiscovery has noted approximately 400 M&A+I events between November 2001 and today. ...
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Insight into where e-discovery, information governance cybersecurity, and digital transformation are heading – who is doing what now or in the future, what works and what doesn’t, and what people wish they could do but can’t – gleaned from recent publication. ...
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The 4-day conference brought together leaders, managers, and decision-making legal technologists from small to large-sized law firms, corporate and government law departments, academia, and the G100 firms to discover and evolve successful legal operation strategies for today’s transforming legal industry. ...
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London-headquartered litigation and cybersecurity support provider Lineal has begun licensing ayfie’s text analytics engine Inspector to improve their technology-assisted review process. Lineal has been using ayfie for around a month. ...
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Lineal is delighted to announce it has licensed ayfie's linguistic technology to enhance their offerings. The partnership allows Lineal to benefit from ayfie's deep integration with the review platform Relativity as ayfie's technology is driving various functionality within Relativity such as entity extraction, email threading, and predictive coding. ...
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For the first time last year, annual investment in legal technology companies reached $1 billion. This year, legal tech investments have already surpassed that, totaling at least $1.2 billion to date — a record for annual investment in legal technology, and with three months still to go before year end. ...
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For the first time last year, annual investment in legal technology companies reached $1 billion. This year, legal tech investments have already surpassed that, totaling at least $1.2 billion to date — a record for annual investment in legal technology, and with three months still to go before year end. ...
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Construction and energy law firm Fenwick Elliott is working with text analytics provider ayfie to enhance its knowledge discovery capabilities, in what is an important client win for the tech company as it targets expansion in the legal sector. ayfie’s tech is based upon computational linguistics. The UK law firm will be using ayfie’s Locator for Knowledge Discovery. ...
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For example, the legal tech company ayfie offers a software suite that uses a combination of text analytics and linguistics-based information retrieval to filter unstructured data sets for PII or other relevant items. ...
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Earlier this week, analytics company ayfie announced that it had raised $10 million in funding with an eye towards strengthening its business profile within the global marketplace, which includes building out its North American commercial team in Denver.
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ayfie Group, a leading provider for advanced big text analytics solutions, announced funding round to accelerate its growth and extend its product offerings building on its reach in the legal tech sector and financial tech markets. This is the second investment round after the initial funding in June 2017.
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ayfie Group, which is focused on text analytics solutions, has announced a $10m funding round to accelerate its growth and extend its product offerings. This is the second investment round after the initial $8m funding in June 2017.
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Congrats to the ayfie team on its latest funding round of $10m to spur growth in North America. ... Equally important, ayfie continues to release innovative adaptations of its products: ayfie Inspector and ayfie Locator.
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Interacting with computers has always been clunky and indirect, and today’s digital assistants are no different. They misunderstand, misinterpret and malfunction. But why is it so hard to make this most promising way of interacting with a machine work? The answer lies in the interaction between the different modules required for a smart assistant.
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Johannes Stiehler, CTO at another Eagle Lab LawTech resident ayfie, reminded Future Lawyer Week that ‘robots don’t get bored’. ayfie’s AI-powered document processing and content extraction software aggregates and visualises data to present complex information quickly and clearly. Intelligent automation is used to decide how to analyse and present the data. But Stiehler emphasises that AI is not foolproof – it takes on boring tasks to enable humans to focus on the important ones.
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AI company, ayfie, which handles text search and analytics, has bagged a new law firm client for its KM-focused ‘Locator‘ application, as interest in tapping tools to reveal internal knowledge grows across the market. In this case, ayfie has bagged SANDS, a top Norwegian law firm and the third it has picked up in this Nordic country. SANDS will use Locator initially in its dispute resolution team to help break down data silos across the firm, surface knowledge and identify connections between recorded insights.
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ayfie, a leading provider for legal tech software solutions, today signed a customer agreement with SANDS, a full-service law firm with leading expertise across all areas of business law. ayfie Locator for knowledge discovery will accelerate SANDS projects by making internal and external information easy to find and instantly accessible for teams through a natural approach to searching and viewing knowledge distributed throughout the company.
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Thommessen recently announced a new partnership with ayfie, a pioneering global software provider for “big text” analytics. ayfie Locator for knowledge discovery will pull Thommessen’s internal data into a Universal Index™, normalize and structure it, and turn it into an expertise knowledge base for the lawyers.
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Thommessen-advokat Katinka Ranberg trekker frem ayfie, et slags Google tilpasset advokater, som et av firmaets fortrinn i teknologi-satsningen. Ranberg håper en uredd innovasjonskultur, og et tett samarbeid mellom unge advokater og digitalavdelingen, vil sikre dem årets talentpris.
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A new Legal Tech trends report was recently published on basis of a survey conducted by the legal industry software company ayfie amongst legal tech experts worldwide from December 2018 to February 2019. The report shows some interesting facts about the status and most important trends on the legal tech developments.
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A new survey on legal tech trends by text analytics company, ayfie, has found that 50% of respondents believe law firms will need to embrace AI tools to remain competitive in 2019. ... The finding is one of several insights from the ayfie Legal Tech Trends Report 2019, which interviewed a small, but indicative sample of 22 experts, including CIOs, CEOs, lawyers and legal tech consultants, to gather their views.
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ayfie, a pioneering global software provider for “big text” analytics, is pleased to announce its latest partnership with Thommessen, one of the largest law firms in Norway.
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Text analytics company, ayfie, has hired US lawyer Jeanne Somma for the newly created role of Legal Insights Executive and Counsel, as part of a wider drive to engage with law firms globally. The creation of a new legally-focused role is another sign of how seriously ayfie is now going after clients in this market.
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One question that often comes up is: why don’t the multiple types of businesses involved in the huge market for mortgages make use of AI data extraction techniques to speed up the process? After all, if there was ever a need for more efficiency that would benefit a huge number of people, then it’s here. ... AI company, ayfie, which has a strong focus on detailed data extraction and is ramping up its work in the legal sector, has just announced a partnership with a US financial technology provider, Alpha Modus, to power contract analytics for the mortgage industry.
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Rob Wescott, Chief Strategy Officer at ayfie added “the growth of data sets in E-Discovery continues to outpace budgets and human resources that can be applied to a matter.”
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Best-In-Class “Big Text” Analytics Solution ayfie Will Power Contract Analytics for the Assure Platform to Drive Efficiency in the Mortgage Industry.
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Software company ayfie has signed a licensing agreement with Alpha Modus, a financial technological provider, to power mortgage-related contract analytics.
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As companies continue their journey to digital transformation, they’re increasingly adding artificial intelligence and machine learning to their toolbox. Today, the law industry is facing the same disruption as ai and machine learning is transforming the legal profession in many ways. In this conversation with Rob Wescott, Chief Strategy Officer (CSO) at ayfie, he explains how machine learning aids lawyers in their jobs, the limitations of AI in law and the wider opportunities that exist.
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ayfie, a leading software company for information retrieval and big text analytics, today announced the launch of ayfie Inspector for Relativity® with Continuous Active Learning methods (CAL). ayfie CAL is powered by SentioAI™ CAL Predictive Analytics & Sentio Maestro™ model-based quality control software.
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ayfie, a leading software company for information retrieval and big text analytics, today announced the launch of ayfie Inspector for Relativity® with Continuous Active Learning methods (CAL). ayfie CAL is powered by SentioAI™ CAL Predictive Analytics & Sentio Maestro™ model-based quality control software.
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Natural Language Processing (NLP), the tech behind Voice Assistants, is still evolving. We find ourselves frustrated with Siri and Alexa when they misinterpret our commands, but the future for NLP and Voice Assistants looks great nonetheless.
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Da advokatfirmaet BAHR bestemte seg for å satse på teknologi, etablerte de like gjerne et eget datterselskap med navnet BAHR Leap. Her dedikerer de ansatte hver eneste dag til innovasjon og nytenkning.
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The law has language at its heart, so it’s not surprising that software that operates on natural language has played a role in some areas of the legal profession for a long time. But the last few years have seen an increased interest in applying modern techniques to a wider range of problems, so this post looks at how natural language processing is being used in the legal sector today.
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I alle organisasjoner brukes mye tid til å finne frem i arkivert ­kunnskap og informasjon. Kunstig intelligens innehar egenskaper som gjør at man kan redusere denne tidsbruken, og frigjøre ressurser til bedre saksbehandling og andre viktige oppgaver, skriver Truls Baklid.
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You may have heard the phrase “Natural Language Processing (NLP)” in our modern dialogue on technology. As a definition, NLP is a field of Artificial Intelligence (AI) used to understand and analyze human language. It recognizes human linguistics patterns, can interpret natural language and extract specific data points from large amounts of unstructured data.
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