As AI has become a staple in the legal world, firms have been faced with the decision of how to best incorporate legal AI technology into their strategy: to build or buy. But as the debate evolves and legal tech continues to mature, a new question arises: 🔎 how can firms evaluate build versus buy through the lens of long-term growth?🔎 Dive into our most recent blog to learn how firms can strategically approach the build versus buy conversation to grow their legal AI strategy at pace with the industry: https://lnkd.in/gn4iuDec #LegalTech #AI #Innovation
DraftWise
Software Development
New York, New York 4,847 followers
Your firm's total intelligence in the hands of every lawyer.
About us
DraftWise helps firms produce higher quality contracts in less time by empowering every attorney with instant access to the firm’s collective knowledge. Our team combines world class engineering with big law to design a solution that puts the attorney in the drivers seat. For more information, or to schedule a demo please contact our team at [email protected].
- Website
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http://www.draftwise.com
External link for DraftWise
- Industry
- Software Development
- Company size
- 11-50 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Founded
- 2020
- Specialties
- LegalTech, ContractDrafting, SaaS, and legal ai
Products
DraftWise
Document Creation Software
The DraftWise Word Add-in securely integrates with your firm's DMS, CRM, and deal databases to provide a unified picture of your firm’s cumulative knowledge directly inside Microsoft Word. We are SOC 2 Type 2 certified and strictly adhere to industry standards for highly sensitive data. Here's how DraftWise improves lawyer’s day-to-day: 👉Find the perfect starting precedent for a new deal 👉Understand how a position was negotiated in the past & find the perfect language to respond in any negotiation 👉Understand market for any given provision: see similar terms across your own firm's internal data, as well as public data available from EDGAR 👉Never miss an important term: mark-up any agreement with your client's preferred language 👉Review every document with your firm’s full history of knowledge: no need to trawl through the DMS or ask a colleague, "where have we seen this before" 👉Proof-read agreements in seconds: not only find drafting errors but also correct them in an instant
Locations
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Primary
New York, New York, US
Employees at DraftWise
Updates
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As AI becomes commonplace in the legal field, firms have had to investigate the best way to introduce legal AI into their workflows: to build or buy. As they've gained more lived experience with AI tools and technology, here are the takeaways we've heard informing the ongoing discussion: 👉 AI’s effectiveness depends on the quality of your data 👉 Properly structuring and managing data is essential 👉 Adoption is the key to realizing AI’s full potential 👉 Continuous learning is crucial to staying ahead Read more on the Build versus Buy conversation here: https://lnkd.in/gxYVFMhK #legaltech #legalAI #GenAI
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This Thursday, DraftWise's CEO and co-founder, James Ding, is hitting the stage at LegalTechnology Hub's 2024 Innovation and Tech-Enabled Lawyering Conference🚀 He’ll showcase how DraftWise's precedent-based drafting platform mobilizes firm knowledge to deliver real, immediate value to the world's best lawyers and firms. Don’t miss the chance to see how DraftWise is shaping the future of legal tech—learn more here: https://lnkd.in/eJPdzXB8 #LegalTech #Innovation #DraftWise
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The unique ability of LLMs to query unstructured data and AI to automate menial tasks has sparked a transformation in legal.💥 DraftWise co-founders, James Ding and Emre Ozen, entered the legal space to solve a discrete problem through big data and generative AI. Partnering with co-founder Ozan Yalti, the team has kept the legal perspective as our north star, bringing the DraftWise platform to the world's leading firms: “We have a lawyer on staff who we can go to and say, ‘What’s your opinion on this? What represents the universal lawyer experience?’” Since then, we've worked to align the best in tech with lawyer's existing workflows to transform every day legal work. As Susana Rojas explains, "instead of requiring large firms to fundamentally change the way they work, lawyers can access the tool directly via Microsoft Word, using it to understand deal history to draft and review new contracts." A big thank you to Index Ventures for showcasing DraftWise in this legal transformation! #legalAI #GenAI #LegalTech
A new wave of AI tools is emerging to transform back-office workflows, marking a shift towards “services as software.” Index's Hannah Seal talks to Vidya Peters, Ross McNairn, James Ding, Sam Ross, Andrew Cooke and others to explore how AI is reshaping the legal, audit, tax, accounting and compliance professions, with insights such as: 🚀 Founders are ripping up the rulebook that says that the professional services industry is too complex, too low-margin, too operationally intensive to scale a startup. AI has changed the game. 🧠 Amid talent wars in legal and a brain-drain in audit, new AI tools are being released onto a volatile talent market, revitalizing professions 🫁 AI is breathing life into legal workflows that haven’t changed in 20 years, despite facing challenges in adoption ⚖️ The balance between empowering and replacing employees with AI in the professional services industry 💪 The opportunity for founders building AI that fits naturally into existing workflows, instead of requiring large firms to fundamentally change the way they work https://lnkd.in/eWtWuxkz
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💼 Should Your Firm Build or Buy Legal AI Tech? The "build vs. buy" dilemma has been a hot topic for firms in recent years—and it's not going away anytime soon. James Ding, DraftWise CEO and Co-founder, has been at the forefront of this conversation, helping top global firms adopt legal tech that solves everyday problems in legal workflows. Curious about the pros and cons of building vs. buying? 👉 This morning's LegalTechTalk webinar covered insights from an expert panel featuring James🎙️ 👉 Next week, James will be joining LegalTechnology Hub's Innovation and Tech-Enabled Lawyering Conference, where he’ll share how DraftWise fits into the equation. Here’s a hint: leveraging precedent with a purpose-built platform is the game-changer.
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Legal teams large and small have spent much of the past year researching, testing, and developing applications of Generative AI to solve various pain points for their lawyers. This week's LegalTechTalk webinar shares key learnings on how to build a successful legal tech stack from top voices in legal: 👉 James Ding, DraftWise CEO & Co-Founder 👉 Nick West, Partner & Chief Strategy Officer at Mishcon de Reya 👉 Ilona Logvinova, Director of Practice Innovation at Cleary Gottlieb Steen & Hamilton LLP Register here: https://lnkd.in/g2_9Euh5 #legalAI #techstack #GenAI
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The DraftWise team has been growing! Our recent customer success addition, Kelsea Shook, joins DraftWise with years of experience. Here are some of the principles that Kelsea works by: ☝️ Leading with authenticity 🥇 Customer experience first 💪 Driven by ownership & accountability "I enjoy helping build customer experience at an early stage and working with early customers to understand the value a solution brings.” Welcome onboard, Kelsea!
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It's clear that #GenAI is revolutionizing how lawyers work. But what does a practical legal tech stack actually look like? On September 12, James Ding, DraftWise CEO & Co-Founder will be joining Nick West, Partner & Chief Strategy Officer at Mishcon de Reya LLP, and Ilona Logvinova, Director of Practice Innovation at Cleary Gottlieb Steen & Hamilton LLP, for a LegalTechTalk webinar covering: 👉 How law firms should start to think about their legal tech stack 👉 The various considerations law firm leaders face when approaching generative AI 👉 The pros and cons of building vs buying AI tools Save your seat now: https://lnkd.in/g2_9Euh5
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Since day one, DraftWise has been committed to aligning cutting-edge technology with the everyday challenges of contract drafting, review, and negotiation. From the start, the founding team relied on lawyer feedback as their guiding light: "We spoke to many lawyers and found they shared the same pain points...we kept hearing, 'I wish we could find things faster or more intelligently.'" This solution-oriented approach has ensured that DraftWise's vision aligns with the real needs of attorneys today. Learn more about how DraftWise is setting the standard for applying GenAI to contracting challenges with a 97% precision score: https://lnkd.in/gC2Pvvx8 James Ding | Emre Ozen | Ozan Yalti #legalAI #legaltechnology #GenAI
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The DraftWise team came away from this year's International Legal Technology Association (ILTA) conference with a shared insight: the legal community is entering a new chapter– one marked by an increased exposure to and understanding of legal technology. Here's what we heard from the legal tech community at ILTACON: 👷Gaps still exist in attorney workflows 📕 The industry is still learning what makes up meaningful technology 🔒 Trust is Essential 🛠️ The future of LegalTech is purpose-built solutions Read more on how we see the next chapter of legal AI shaping up: https://bit.ly/3Axxvov #legaltech #legalAI #ILTACON2024