- Guest Blog by David Fisk, Commercial Director at iManage RAVN
Artificial Intelligence (AI) offers the promise of significantly transforming our personal and professional lives, and much has been made about its impact on the workforce, perhaps not always positively. The reality, however, is that AI enables individuals to improve and enhance their capabilities and quickly adapt to a rapidly changing environment.
AI by itself is relatively meaningless. The true power of AI is when you don’t even notice it. The best example is consumer vehicles, specifically self-driving cars. No one is adding an AI platform to their ‘non-smart car’ – instead, people are buying a car with this functionality already built-in. As you are driving in your self-driving car, you know there is AI technology running in the background, but you don’t actually see it working.
iManage has most definitely stolen the march in the AI space following its recent acquisition of AI- platform, RAVN Systems, making the company one of the largest vendors of AI – not just in the legal sector, but more widely across industries. iManage has already started integrating the RAVN AI-platform in many of its Work Product Management offerings. The effect of this development on traditional document, content and knowledge management is going to be phenomenal - raising the bar and indeed the expectations of users of such software across many industries. For instance, RAVN already has a significant client base in sectors including finance and real estate.
The combined iManage-RAVN offerings will take iManage Work from being a powerful, next generation document management system to becoming a leading-edge content awareness platform. With tens of millions of objects in a data repository, unless the information is analysed in metadata fields, it’s very difficult to locate the right facts/evidence/material in the content residing in the system. The RAVN AI engine in iManage Work can mine the information in the content to enable organisations to repurpose knowledge and gain insight on matters that can help law firms offer value added services – but the possibilities are endless.
Specifically, for law firms and in-house legal departments, the coming together of iManage and RAVN has opened up the possibilities of developing exciting applications to deliver efficiency to customers in the way matters are handled, insight is extracted and leveraged or legal documents are analysed. Let’s take a look at the Serious Fraud Office (SFO), a UK-governmental department in charge of prosecuting complex cases of fraud and corruption. The SFO recently used RAVN to help a team of investigators sift through 30 million documents, processing 600,000 documents per day. Without the use of RAVN’s AI search capabilities, the investigation quite likely would never have completed.
In the near future, customers can expect to see a strengthened search capability in iManage Work. In addition to the traditional search functionality currently offered within the product, customers will now be able to take advantage of the more advanced knowledge management offering via the RAVN integration. Similarly, the extraction capability plugged in to iManage Work will greatly enhance the system, regardless of whether matters sit in workspaces at the law firm end or in the collaborative areas with clients.
Today, iManage is at the forefront of this technology and positioned as a dominant player in this burgeoning area. Many organisations that offer AI today are fairly small start-ups with limited trading history, which in itself carries a substantial risk for law firms and organisations to adopt their solutions. iManage and RAVN are well established companies with a rich history of innovation and proven product offerings, which will give customers the confidence to deploy the combined solution to meet business needs and even gain a competitive advantage.
There is a feeling that AI might solve business problems someday in the distant future. However, iManage completely disagrees with this premise – companies are using iManage RAVN to solve real-world business issues TODAY!
There will be lots of exciting things that will be unveiled in the months to come – watch this space!
About David Fisk
David joined RAVN Systems 5 years ago to add a commercial layer to what was a very engineering-centric but exciting start up. Tasked with taking their highly innovative technology to market, the journey has been exciting and rewarding. Having originally graduated with a degree in electronic engineering, his career has subsequently included spells in business consultancy, indirect sales management, direct sales, and management.