Goodwin Procter’s new proprietary artificial intelligence tool is the first to come from its multimillion dollar investment into developing a series of planned programs designed to help its lawyers work more efficiently. (Image from
Goodwin Procter has unveiled its own artificial intelligence tool for venture capital financing.
Bloomberg Law reported Thursday that the tool is the first of several planned AI programs developed internally at the Am Law 100 law firm.
The firm plans to invest $25 million per year to create products “designed by lawyers and powered by technology with a real client focus,” Anthony McCusker, the firm’s chair, told Bloomberg Law.
The financing tool is powered by a custom version of Anthropic’s Claude platform and will provide the basis for programs in other practice areas, including mergers and acquisitions, private equity, litigation and fund formation, McCusker told Bloomberg Law.
Bloomberg law added that the tool was developed under the leadership of Eric Tan, chief digital and technology officer at the firm and was built by six associates.
The firm hopes to save its lawyers a million hours worth of work per year, which equates to about 1.5 hours per day for Goodwin’s nearly 3,000 attorneys and business professionals
Write a letter to the editor, share a story tip or update, or report an error.
