P2P

86 P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | W I N T E R 2 0 2 1 related documents using machine learning to analyze content and activities. • Deal locator — the ability to search for, and across, deal documents to enable visibility to business metrics as they relate to matters and clients. C U R A T E D K N O W L E D G E The second broad category of knowledge is curated knowledge, which is largely asset-based. There are several forms of curation at work: • Curated Know-How – Very often, curated knowledge takes the form of templates, starting points, and other assets that ensure lawyers don't have to start from a blank page when tackling a new assignment. It also includes checklists that can drive consistent process and actions for teams. These checklists standardise processes and 'signpost' lawyers to key resources for each particular stage and task in a matter. • Clause locator — the ability to find pro forma and best practice clauses from knowledge content and create unified best practices specific to clause type. • Knowledge locator — the ability to assemble best practices to easily find your firm's recommended content, market insights, and latest legal principles. F R O M T H E K M C C T Real world example: Linklaters LLP Global law firm Linklaters LLP launched MatterExplorer, an AI-powered search and knowledge management system. The system is reducing the discovery time on finding similar deals from hours to seconds for more than 750,000 documents from the firm's global offices in 20 countries, allowing them to quickly and easily find precedent documents from past matters. Real world example: Womble Bond Dickinson Transatlantic law firm Womble Bond Dickinson is leveraging AI-powered search to unlock knowledge and relationships across its 1,000 lawyers and 75 million documents, helping to streamline financial operations. AI brings together data from time and billing systems, fee earner biographies, work product history, know-how, and other pieces of information, enabling the firm to work more efficiently and better serve their clients. Real world example: Bennett Jones Canadian-headquartered global law firm Bennett Jones launched a knowledge management system for the entire firm called 'Insight Search'. The solution enables Bennett Jones to surface key information from the firm's most valuable systems like their document management system (DMS), highly curated knowledge bank, collection of closing books, and intranet, creating a more streamlined and effective user experience.

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