M&AImpact

This week I am in Chicago for the ABA’s Tech Show. I plan to share some of the interesting developments in the legal tech world that will affect the M&A process.

AI will change the world, but how will it change M&A? I want to focus on AI’s impact on M&A in this newsletter. I am not an expert on either M&A or AI, but I want to learn about both topics and how they intersect. I thought there may be others in my situation (or people who are experts in one field or the other) who would find information on M&A and AI helpful in their careers, so I created this newsletter to track and share what I learn.

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ABA Tech Show Start-Up Pitch Competition

The first program of the conference was a start-up pitch competition where several legal tech start-ups gave a 3 minute pitch on their company. Here are some of start-ups that could have an impact on M&A practice:

Paxton AI

Paxton AI is an AI company that allows law firms to use an LLM on the firms internal cloud infrastructure without sharing confidential information.

This solves a big problem that the legal profession has with AI. Lawyers have a duty to protect their client’s confidential information. Most AI companies like Google Bard (now Gemini) and Open AI take all of the information entered into their chat bots and use the information to train their LLMs.

Paxton AI is a solution to the privacy problem for law firms. Client info entered into the model stays inside the firm’s internal servers/cloud and is not used to train the model.

The functionality of Paxton AI includes basically anything that ChatGPT can do, such as asking documents questions, drafting, and answering legal questions. Paxton also claims that it hallucinates less than other LLMs.

I think this a great tool for all lawyers.

Gretchen Email AI system

The Gretchen AI System is a AI tool plug-in to that uses work product to generate answers to client questions sent via email.

Gretchen has access to the firms document management system and when prompted, can search the document management system for the correct document, analyze the document to answer the client’s question, and write out an email response to the client’s question.

Even better, the model can be trained in the lawyer’s writing style by uploading several examples of the writing and make the response sound as if the lawyer him/herself wrote the email.

I could see this tool being used in the following way: Client asks question (“what was in the contract”), lawyer prompts Gretchen to answer the question, Gretchen responds with a drafted email based on the lawyer’s writing and based on the document that the client is asking about.

This could save a lot of time searching for answers to client questions.

Stay tuned for more from the ABA Tech Show!

About me

My name is Parker Lawter, and I am a law student pursuing a career as an M&A lawyer. I am in my last semester of law school, and with some extra time on my hands, I decided to create this newsletter. I hope it is informative and helpful to anyone who reads it! I am not an expert at either M&A or AI, but I am actively pursuing knowledge in both areas, and this newsletter is a part of that pursuit. I hope you’ll join me!

Follow me on LinkedIn: www.linkedin.com/in/parker-w-lawter-58a6a41b

All views expressed are my own!

Photo of Parker Lawter Parker Lawter

My name is Parker Lawter, and I am a law student pursuing a career as an M&A lawyer. I am in my last semester of law school, and with some extra time on my hands, I decided to create this blog. I hope…

My name is Parker Lawter, and I am a law student pursuing a career as an M&A lawyer. I am in my last semester of law school, and with some extra time on my hands, I decided to create this blog. I hope it is informative and helpful to anyone who reads it! I am not an expert at either M&A or AI, but I am actively pursuing knowledge in both areas, and this newsletter is a part of that pursuit. I hope you’ll join me!