Julie Saltman, Co-founder and CEO at Standd, talks about how AI helps lawyers save time in due diligence, the lessons she learned with the launch of the company, and the impact of generative AI on legal writing.
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Quick takeaways
STAN's AI platform automates tedious manual tasks in due diligence, allowing lawyers and clients to focus on more important aspects of the process.
Generative AI can be used as a tool for checking language and grammar in legal writing, helping foreign-trained lawyers improve their proficiency in legal English.
Deep dives
STAN: Using AI to Improve Due Diligence Process
STAN is an AI native due diligence and deal intelligence platform that automates tedious manual tasks involved in the due diligence process. By using AI, STAN helps eliminate wasted time and manual busy work, allowing lawyers and clients to focus on more important aspects of the process. The platform organizes documents into relevant categories, saving users time and effort. STAN also offers features like a timeline that pulls critical dates and events, providing a comprehensive view of the company's life cycle. By automating and streamlining the due diligence process, STAN aims to enhance collaboration, de-risk deals, and facilitate better decision-making.
Addressing Variations in Documents with AI
One of the challenges in due diligence is dealing with variations in documents unique to each deal. While STAN doesn't automate contract review, the platform leverages AI to address other aspects of the workflow. By analyzing checklists commonly used by lawyers and investors, STAN's models identify missing documents or categories, offering a red flag that prompts further investigation. Additionally, STAN's AI-powered tools help users gain insights and identify patterns in complex factual records, organizing information in new ways to facilitate better understanding. By effectively addressing variations and providing valuable insights, STAN enhances the due diligence process for lawyers and clients.
The Role of Generative AI in Legal Writing Instruction
Beyond due diligence, Julie Saltman, the CEO of STAN, discusses the impact of generative AI on legal writing instruction. Recognizing that generative AI can generate generic and voiceless legal briefs, she emphasizes the importance of maintaining a personal voice and persona as a lawyer. Saltman suggests that legal writing professors could teach students how to use generative AI as a tool for checking language, grammar, and articulation while ensuring students build their own writing style and brand as future lawyers. Accordingly, she believes generative AI can play a valuable role in helping foreign-trained lawyers and students improve their proficiency in legal English.
Today’s guest is Julie Saltman, co-founder and CEO at Standd, a company using AI to eliminate tedious grunt work from the due diligence process. Prior to launching Standd, Julie spent more than 15 years as an attorney at the US Department of Justice, the US Copyright Office, and in private practice. Additionally, she has written articles on technological innovation and the law, and was an adjunct professor at Georgetown University Law Center where she taught legal writing. At Standd, she works with a highly experienced team of innovative technologists who are building tools that transform their clients’ businesses.
In our conversation, Julie talks about how Standd helps lawyers save time in the due diligence process, the lessons she learned with the launch of the company, and how generative AI could impact the way we teach legal writing.
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