More and more legal professionals are embracing AI, surveys show. Per a recent poll from legal tech company Clio, 79% of firms used some form of AI for casework last year, up from just 19% in 2023. Despite some skepticism of the tech, in-house counsel has shown an interest, as well, with one survey suggesting that nearly half of attorneys think AI can yield cost savings for their departments.
Legal tech providers are popping up left and right to meet the demand. SpotDraft, which focuses on building contract automation and management software, is one such relative newcomer. Founded in 2017, SpotDraft sells tools to help in-house legal teams simplify their contracting tasks.
Shashank Bijapur, Madhav Bhagat, and Rohith Salim were on SpotDraft’s early team. Bijapur, the company’s CEO, says that the idea for SpotDraft came to him while he was an associate at Bengaluru-based law firm White & Case, which dealt with high volumes of corporate contracts.
SpotDraft’s platform uses AI to extract key details and clauses from contracts, providing summaries of changes and suggested follow-up work. A unified task center shows upcoming deadlines, renewal reminders, and individual and team jobs, helping orgs stay organized — at least in theory.
Leave a Reply