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this silicon valley startup wants to replace lawyers with robots

by:QiMeng     2019-09-29
The next hot startup in Silicon Valley is unlikely to be a video chat app.
It\'s also unlikely to be an on-
Demand services like Instacart or Uber.
But maybe-
This is not a joke-a law firm.
At the very least, this is Justin Kan\'s ambition, a continuous entrepreneur who knows one or two about popular startups.
Naoto Kan, 34, made a video game.
In 2014, he sold it to Amazon for nearly a billion dollars.
Then, he\'s in the famous Silicon Valley startup incubator Y-Combinator. Kan’s months-
Atrium, an old legal technology startup, is actually a law firm and may be the only startup in Silicon Valley to do so.
More unusual in an ordinary rule
Break the rules
Lawyers are the last and least willing to hire a startup founder.
Smooth walk into the atrium, 34-
The people\'s office in the San Francisco design area is in a way like walking into the prototype of a future law firm.
Lawyer and assistant lawyer in T-
The shirt and jeans sit side by side on the bean bag chair with the encoder (
People in the same costume).
Throughout the day, lawyers ask questions from a roster of startup clients who want to perform day-to-day legal tasks such as raising money from venture capitalists and issuing stock options to employees.
Engineers pay close attention to the transaction and extract some information from the documents of the dialogue and exchange.
They are trying to build technologies that will eventually automate the work --
And replace some people who are doing it.
Or, as Naoto Kan and his co-founders say, they want to create a law firm full of technology --
A turbocharged lawyer who is able to provide more efficient services on a single, transparent bill.
Automation and AI tools have become complex enough to influence professionals and white people over the past two years --collar work.
The software is aimed at administrative assistants, radiologists and financial advisors.
McKinsey estimates that automation is possible for 35% of professional tasks.
The company said JPMorgan recently called a group of developers to develop software that could complete the work that lawyers had spent 360,000 hours before in a few seconds.
Around every discussion of artificial intelligence, there is increasing pressure on people who end up killing jobs or increasing jobs because knowledge workers are facing their own obsolescence.
The tools will eventually reduce the number of workers needed for many occupations and enhance the ability of those who are in a backward position, the researchers said.
Of course, Naoto Kan\'s efforts are still in the early stages.
Now he is hiring lawyers instead of getting them out of date.
The office consists of six of these assistant lawyers and engineers.
Two of his three colleagues
The founders Augie Rakow and Bebe Chueh are lawyers themselves. (
Fourth, Chris Smoak, an engineer and a continuous entrepreneur).
Naoto Kan said he was drawn to the idea because he was frustrated by an old industry, and in his experience of starting and selling startups, he had to work with the industry again and again.
\"I have raised the funds.
I did the merge. I’ve been sued.
However, every time the bill is piled up, I don\'t know why I\'m paying.
\"In Silicon Valley, we want everything to be transparent,\" he said in an interview . \".
To this end, a more innovative feature of the atrium is its pricing model.
Companies don\'t charge as much as most corporate law firms do on an hourly basis.
Instead, Atrium estimates the amount of work it expects to do for each customer and charges a feefront monthly-
No matter how much work hours are charged.
Atrium said it has helped their startup customers raise $94 million so far.
Customers are not typical small businesses or big companies: they include Meadow, a cannabis e-commerce company
Business platform;
Providing drug testing services for cannabis patients;
A startup has just raised money by selling an unknown cryptocurrency through a process known as the initial coin issue.
Rakow is a senior partner at Orrick, Herrington and Sutcliffe, a top Silicon Valley company, but says he is drawn to a job that will help push his career to the future.
\"Everyone knows this is the future of legal practice,\" he said . \".
\"I don\'t want to go through the second half of my career like taxi drivers complain about Uber.
While innovation from Silicon Valley has changed everything about taxis
From manufacturing to media, few industries are as stubborn as the legal industry is to be protected from technological disruption.
As anyone who charges a lawyer\'s fees due to an increase in the amount of time a lawyer can charge, the law firm is still almost surprisingly low --Technical Operations.
But the shift is coming.
As law firms face more pressure than ever to cut costs and reduce billable hours, many are reluctant to invest in innovation and technology.
Companies will do more legal work since the recession
A house that saves money;
Some companies like JPMorgan Chase have designed their own technological shortcuts.
Experts say the legal industry is very slow to adopt technology because the incentive structure of law firms does not reward investment in innovation.
Lawyers pay on an hourly basis, so there is little attraction to the technology that can improve work efficiency, as they reduce work.
In addition, most corporate law firms are partnerships in which investments in new technologies must come directly from the partner\'s pocket.
Some start-ups have dealt with legal services such as document review, e-commerce
The discovery of parking tickets and even automatic competition (
Parking ticket chat bot DoNotPay recently enabled consumers to send automatic small claims to Equifax).
But for the most part, technorati has yet to target a legal services industry worth about $300 billion.
Since 2011, legal technology companies have raised less than $0. 8 billion, which is only a small part compared to other emerging categories such as virtual reality, artificial intelligence or self. driving cars.
Frank Levy, an honorary professor at MIT, questioned whether more legal work could really be automated.
In a paper to be published in Georgetown Journal of Legal Ethics entitled \"Can robots become lawyers ? \"
Author Dana Remus found that even if all the AI tools on the market are now accepted by the company, only 10% of the legal work can actually be outsourced to software.
Levy said: \"90% of what lawyers do today cannot be automated because the work requires knowledge and decision-making --
This is beyond the capabilities of today\'s technology.
In addition, he pointed out that even for the depths of Silicon Valley, the execution cost of the atrium may be very high (
Levy stressed that he did not see the specific business plan of the atrium, which is generally reviewed).
He said that the cost of lawyers is high, but the cost of engineers is also high.
At the moment, Kan is building software to focus on some basic tasks that are customized to meet the specific needs of the early days
The stage for Silicon Valley startups.
If the atrium is to be extended to other areas, it may have to build many different types of custom software, each of which requires specialized engineering and can be very expensive to build.
Still, Kan, Rakow, Chueh and Smoak say they hope their adventure will help make the legal business more popular with customers --friendly.
\"In Silicon Valley, we rate every Lyft ride and Amazon shopping.
\"Feedback is at the heart of Silicon Valley,\" Kan said . \".
\"No law firm asked me how my service was.
I always wanted transparency, but I never did.
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