Legal Tech Startup Lexion Tasks GPT-3 to Help Draft Contracts in Microsoft Word
Lawyers can ask GPT-3 to help write contracts in Microsoft Word thanks to legal tech startup Lexion’s new AI Contract Assist Word plugin. The new tool offers assistance in drafting and negotiating terms, as well as summarizing the contract for those not versed in legal language and marks the growing interest in applying generative AI within the legal profession.
GPT-3 Contracts
Lexion’s AI Contract Assistant is designed to compose, adjust, and explain contracts with an eye toward streamlining their creation and approval. Lawyers with the Word plugin can write a prompt describing the goal of a contract clause, and the AI will generate one with appropriate language. The AI can also suggest how to negotiate specific parts of the contract and insert clauses from previously written contracts. Lexion’s tool will also translate contract clauses into more conversational language, summarizing what it means more clearly. The AI has been fine-tuned on contract language and related legal data, but the assistant is still in its early stages, but Lexion hopes to augment its capabilities through training on a company’s previous contracts.
“Creating a tight iterative feedback loop with a lawyer at the helm means that the AI and human together produce a better outcome, faster,” Lexion CEO Gaurav Oberoi said. “In our beta tests, we already see users exclaim at how surprisingly easy to use and useful Lexion AI Contract Assist is, even when it produces language that they then have to edit into a final form.”
Legal AI
The intersection of GPT-3 and legal technology is drawing more attention, and the three-year-old Lexion, founded at the Allen Institute for AI in Seattle, is just the latest. Legal technology developer Rally recently published an AI assistant for composing contracts using GPT-3 named Spellbook. Lawyers can embed Spellbook in Microsoft Word, much like Lexion, to generate suggestions on improving the language in a contract, summarizing the document to be understandable even to a child, and offering ideas for where negotiation could happen. AI-powered legal research is also under development by companies like Casetext. And AI legal assistant startup Harvey has raised $5 million in a funding round led by the OpenAI Startup Fund to answer questions and complete tasks for lawyers, producing and editing legal documents.
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Legal Tech Firm Rally Showcases GPT-3 AI Contract Writing Assistant Spellbook
