Predictice is an app that provides lawyers with statistics and data on the likely outcome of commercial and social disputes, based on the history of the courts.
More and more sectors are using the power of predictive technologies. Back in September, we wrote about this startup in the US that uses an algorithm to vet commercial lawsuits, providing finance to those with potential for success. Offering a similar application of big data to the legal services industry is Predictice, a startup that uses machine learning techniques for case law, allowing it to extract a statistical analysis of the outcome of litigation.
The world’s largest law firm, Dentons, has partnered with the French startup to develop software that helps to predict the likely course, cost, length and outcome of litigation based on historical court decisions. It allows advocates to know in advance the probable outcomes and make strategic adjustments accordingly. This can aid decision making such as prioritising certain arguments, or adjusting the compensation claimed.
Marie Bernard, Dentons’ director of innovation, said the system allowed the lawyer to price according to risk. Will this technology be adopted in other countries?