Macfarlanes Deploys HarveyAI Legal Technologies Tool
Law firms are increasingly deploying legal AI technologies with the latest large firm being Macfarlanes, who follow Allen & Overy who also adopted the technology earlier this year.
PwC’s legal team are also using the HarveyAI technology.
Macfarlanes Embraces Cutting-Edge Generative AI Tool, HarveyAI, as Part of Its Forward-Looking AI Strategy
In a significant move that places them at the forefront of the legal sector’s adoption of generative AI, Macfarlanes has announced its decision to implement HarveyAI (Harvey), a specialized AI tool designed for legal work.
Macfarlanes is a top-ranked firm that has also been a firm that has achieved a high ranking for its pay scale. Although closer to the top 30 than top 3 UK law firms, it has a very high profitability with partners taking home around £2.48 million pounds, making it one of the most profitable in the UK. And building their efficiency (and profits) sees the use of AI tools like Harvey.
Harvey builds custom large language models for law firms and has raised significant funding, including $21 million from Sequoia Capital and the OpenAI Startup Fund.
Generative AI is a burgeoning field in the legal sector, helping to provide potential for enhancing the efficiency of legal services, and is one of the major, emerging legal technology AI tools to take hold in the legal market.
Macfarlanes sees itself as an early adopter of the legal technology and sees it as a cornerstone part of its broader AI strategy to boost its expertise and legal delivery services.
The introduction of HarveyAI follows a comprehensive pilot program conducted by the firm earlier in the summer, involving over 70 fee earners and knowledge lawyers across the firm. The intention is to have over 650 lawyers at the firm using the AI tool
HarveyAI is rooted in OpenAI and ChatGPT technology. It operates as a platform leveraging natural language processing, machine learning, and data analytics to automate and elevate various aspects of legal work, including document review, analysis, and summarization.
The technology can tackle general legal inquiries and draft documents, providing efficient solutions that are made possible through technological innovation. It is important to note that all outputs generated by HarveyAI will undergo rigorous monitoring and review by Macfarlanes’ legal experts.
Luke Powell, Managing Partner at Macfarlanes, expressed the significance of this partnership.
“It is clear that generative AI will become widely integrated into the way that the legal sector supports its clients. Our partnership with Harvey demonstrates how we continue to progress our AI strategy, which has the potential to transform the way we provide solutions and services for our clients.”
Chris Tart-Roberts, Head of Lawtech and Chief Knowledge & Innovation Officer at Macfarlanes, highlighted the promise of generative AI in the legal domain, emphasizing its role in enhancing legal professionals’ capabilities and ultimately benefiting users of legal services through improved efficiency and superior service.
“We are excited to be at the forefront of this technology’s evolution, which has potential to shift the paradigm. Partnering with Harvey provides a unique chance to be a part of the development of transformative AI.”
Winston Weinberg, Co-founder and President of Harvey, expressed delight in the collaboration with Macfarlanes and the alignment of their vision for using generative AI to empower lawyers and enhance legal services.