Artificial intelligence (AI) is quickly becoming the posterchild of legal technology. At times this notion can seem more hyperbolic than factual, ingrained in the psyche via spate after spate of new technology, the stories around it and the vociferous nature of many early adopters. However, the closing of a funding round announced today, coupled with a series of recent Big Law moves involving AI technology, are lending an air of substance to the hype that is AI.
The company receiving the most recent round of investments is Casetext. A legal research platform, the company leverages AI as part of its premium service, CARA (Case Analysis Research Assistant), to find cases that are relevant to briefs. Since its founding in 2013, Casetext has gathered a considerable array of Am Law 100 firms, including DLA Piper, Fenwick & West, Ogletree Deakins and Greenberg Traurig, the company noted in a release.
