• From Osborne Clarke: “From a venture capital perspective, London was Europe’s premier destination for technology investment last year, with research figures showing that London attracted more funding than Paris, Berlin and the next seven cities combined.  Whilst Fintech continued to be a particularly attractive target for funds in 2017, the standout growth area over the last year has been artificial intelligence, with many VC investors pinning their capital to it as the next big thing by placing significantly more capital in AI businesses in 2017 than ever before.”

 

  • Press release: “LegalMation® was named by the National Law Journal today in its inaugural “Legal A.I. Leaders” list. Published as part of the Law.com network, the “Legal A.I. Leaders” list identifies and highlights the most innovative companies applying artificial intelligence in the legal industry.Developed by award-winning litigation experts, LegalMation® is the only legal A.I. solution that produces actual first drafts of key litigation documents—a fully automated process that takes 60-120 seconds. With no installation required or any functions to learn, LegalMation® identifies key claims and allegations of complaints and then produces high-quality first drafts of answers and initial written discovery. This results in substantial cost savings of up to several thousands of dollars per matter.”

 

  • Hogan Lovells has issued this guide to AI and space: “In this guide, we highlight the key challenges and commercial opportunities for AI and advanced machine-learning, with particular focus on space based business considerations. We also touch on AI in the areas of space, drones, and terrestrial convergence, particularly communications and imaging platforms or applications.”

 

  • Allen & Overy has issued this rather detailed discussion of “Using artificial intelligence to fight financial crime – a legal risk perspective.”

 

  • Foley Hoag announced its representation of “machine learning startup Indico in its $4 million equity seed financing …. Indico helps users benefit from the dramatic advantages of artificial intelligence and machine learning at a fraction of the time and cost of traditional techniques.”

 

  • I mentioned yesterday that it would be impractical for me to cover all of the product announcements and upgrades from Legaltech18, but I have to mention the release of Neota Logic 9 for a couple of reasons. 1. Much of what is being labeled “AI” is just Big Data, close but not exactly Artificial Intelligence per se. Neota Logic was one of the first in the legal space to have its tech underpinnings firmly in actual AI systems. 2. With this release, Neota is no longer the rather esoteric product (or was it a service?) that lawyers and legal business people may have had trouble figuring out how to use. With this release Neota is clearly positioned to directly address process improvement needs in both the business and practice of law.

 

  • Finally from Legaltech, this summary of a panel imagining what work in a law firm might look like in 2048. (I suggest that these predictions are all reasonable, but more likely to be in place in 10 years, not 30.) The session was called, “A Day in the Life of a Futurist Jurist Empowered by Artificial Intelligence: An Ethical Dilemma,” but from the summary, I don’t see the “ethical dilemma.”

 

  • Moving beyond legal, just imagine AI with a quantum computing platform. Among this article’s remarkable observations: “Quantum computers and AI also share another trait: exponential growth. Processors for quantum devices are measured in qubits, with today’s most advanced ones coming in at around 50 qubits. At this size they’re the equivalent to a supercomputer. At just 60 qubits, it would exceed the power of every supercomputer on the planet combined, and then some.”

 

  • Every few weeks I try to provide a fresh introduction to AI for those new to the topic. Here I go again: first, from Wired, this good history and overview; then from the NYT, this very accessible explanation, based on comparisons between AI and human intelligence; and from the University of Cambridge, this thought piece about the likely societal impacts of AI. And finally for the newbies, here are 10 (not 9) fun facts about AI.