After 2+ decades in the litigation financing business, the RD Legal team is no stranger to change, particularly when it comes to technology. From the days of spreadsheets and mail merges the adoption of CRM systems and the rise of mobile devices, we’ve seen tremendous technology gains over the years.
That spirit of innovation and drive to constantly find new ways to improve efficiency and effectiveness of behind-the-scenes work associated with litigation financing deals is alive and well.
The verification work we do behind the scenes as part of the deal process is time consuming and tedious yet demands precision and accuracy. This is particularly important when dealing with large settlement groups from attorneys or firms.
Recently, we have begun using Artificial intelligence (AI) technology to improve efficiency. By tapping into AI algorithms and machine learning techniques we can analyze and manage large volumes of data almost instantly.
The productivity gains are remarkable with AI. At the very beginning of the Camp Lejeune settlement process we sent four lawyers to a law firm to perform the due diligence on their case files and medical records. The team was on site, working full time for a week and a half. Now, with AI, the firm would simply upload the files and medical records to a secure location and the AI algorithms would be able to sort and categorize the data instantly.
For RD, this is a game-changer. One that will enable us to more quickly formulate deal proposals for our clients. By harnessing the power of AI, we gain a competitive edge, and improve our productivity which ultimately enables us to better serve you.
