INTELLLEX selected to join Thomson Reuters Labs Incubator Programme
Thomson Reuters, the answers company™, have announced that the winner of the 2018 challenge for a legal tech startup to join the Thomson Reuters Labs Incubator is INTELLLEX, a startup that provides artificial intelligence powered knowledge bank solutions for legal professionals.
INTELLLEX will join the Thomson Reuters Labs Incubator programme, launched in 2017, that gives startups the opportunity to enter into a minimum three-month partnership with access to the following:
- Exclusive mentoring from Thomson Reuters and the opportunity to network with industry, business and technology experts
- Specialist workshops to review, refine and test business ideas
- Brand exposure and the ability to leverage the global reach of Thomson Reuters through marketing spotlight opportunities and events
- Thomson Reuters legal databases and online business development tools
Thomson Reuters Labs is a global team of data scientists, research scientists and software engineers based in the UK, USA, Canada and Switzerland. The team works with customers, startups and world-class universities to develop innovative solutions to the challenges businesses face today.
The 2018 winner, Singapore-based INTELLLEX, provides a cloud-based knowledge library that enables legal professionals to access prior work product organized by legal concepts and document type.
INTELLLEX uses natural language processing and neural networks to develop artificial intelligence algorithms which can automatically categorize prior work product along legal dimensions such as legal issues, legal questions, or document type. This automatic categorization eliminates the time-consuming process that knowledge management professionals perform when categorizing prior work product manually.
INTELLLEX participates in the Barclays Bank’s LawTech Incubator (Eagle Labs) which operates in conjunction with the Law Society and 14 other partner law firms.
Jim Leason, Customer Proposition Lead in the Legal Professionals Europe business of Thomson Reuters, says: "Our Thomson Reuters Labs Incubator is an important part of our efforts to deliver the technological solutions needed by law firms of the future."
"INTELLLEX brilliantly brings together the power of artificial intelligence technology with the more basic need of law firms to organise, search and retrieve their knowledge in an efficient way. We are excited to explore a proof of concept where we may be able to enrich INTELLLEX's auto-categorization algorithms with ontologies and taxonomies that we have developed here in our UK legal research and know how solutions."
"Through working with these selected startups, we are also better able to accelerate our own projects and identify new trends in technology – it’s a two-way street."
"The development of legal technology is moving fast and law firms are having to invest just to stay competitive. Any firm that falls behind in using technology may find it difficult to catch up", says Leason.
"The drive to push for innovation within a particular industry must involve an entire ecosystem. The partnership with Thomson Reuters is a strong validation of the potential of our technology,"" said Chang Zi Qian, co-founder and CEO of INTELLLEX. We are honoured to be selected by the Thomson Reuters Labs. The team is looking forward to co-drive the proof of concept project with the Thomson Reuters team over the next few months."
Barry Dooney, Strategy and Operations Manager at Thomson Reuter Labs, says: "The caliber of applications for our incubator program has exceeded our expectations. The selection of INTELLLEX into our incubator represents an exciting next phase in the growth of our program as we continue to partner with startups and other market disruptors".
Note: Thomson Reuter’s corporate press release on the announcement is available here.
Thomson Reuters is the world’s leading provider of news and information-based tools to professionals. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
INTELLLEX provides intelligent legal knowledge management solutions. Its proprietary technology helps clients automatically structure an AI-enabled knowledge library, giving clients relevant documents and answers from both internal and external sources. Founded in 2015, INTELLLEX currently has offices in both Singapore and London. For more information on INTELLLEX, visit intelllex.com.
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