Fastcase, vLex merger accelerates investment into legal AI

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As artificial intelligence pushes deeper into the legal industry, Fastcase and vLex are merging in a deal the legal research companies said Tuesday will speed up the creation of AI tools for lawyers.

quickly increasing their power and reach, vLex and Fastcase are betting their combined document library will be a rich training data set for legal AI products.

"It will always make sense to train legal LLMs on legal data instead of the World Wide Web," Walters said. The merger creates a law library that is "the biggest legal data corpus ever assembled," the companies said. The new company will have more than one billion legal documents from more than 100 countries, including judicial opinions, statutes, regulations, briefs, pleadings and legal news articles, they said.

The combined company will license the dataset to other entities for use in creating their own large language models, Walters said.Generative AI has fueled a new tech gold rush since OpenAI's November debut of ChatGPT. Legal tech companies have joined in the frenzy and are already deploying new products for law firms and corporate legal teams.

 

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I cannot imagine letting AI do legal work. The proofreading would be so critical.

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