AI copilot for lawyers provider Spellbook has announced the release of Spellbook Associate, the first comprehensive AI agent designed particularly for legal work. The agent allows AI to manage a wide range of legal procedures, enabling legal teams to avoid repetitive procedures and achieve new levels of efficiency.
“We believe that agents are the most important leap forward in AI since ChatGPT, and that they’ll be even more impactful. Chat tools were helpful for answering one-off questions, but soon we’ll have AI colleagues in every industry who will be working through complex deliverables, similar to humans,” said Scott Stevenson, Co-Founder and CEO, Spellbook.
Spellbook Associate can manage projects across numerous documents and applications by leveraging its capacity to cross-reference multiple sources for greater accuracy. Moreover, it can plan, perform, review, and alter its own work, allowing it to undertake more complex and detailed legal tasks. For example, it can take a single prompt and execute legal tasks like writing full finance contracts from a term sheet, checking hundreds of documents for dangers and contradictions, or updating employment agreements—all without the need for continual supervision.
In addition, Spellbook Associate allows lawyers to devote more time to high-value activities like negotiating and client relations since it works more efficiently than a normal junior associate does. It also enables small and medium-sized law firms to compete more successfully with larger firms by leveling the playing field.
The company has also launched its first GenAI-powered contract review tool, which is scheduled to examine 10 million contracts by the end of 2024. Spellbook is currently providing early access to Spellbook Associate to legal teams on a first-come, first-served basis.
