McGuireWoods will utilize CoCounsel, a first-of-its-kind AI legal assistant developed by Casetext and powered by OpenAI’s latest and most advanced large language model, GPT-4.
CoCounsel enhances the quality and timeliness of certain legal services. It quickly and accurately performs substantive tasks such as legal research, document review, deposition preparation and contract analysis, while keeping data private and secure.
In building CoCounsel, Casetext combined the technological power of GPT-4 with its proprietary legal databases and search system, Parallel Search. To tailor general AI technology for the demands of legal practice, Casetext established a robust trust and reliability program managed by a dedicated team of AI engineers and experienced litigation and transactional attorneys. Casetext — whose customers include law firms and corporate legal departments — recently was acquired by Thomson Reuters.
“This partnership allows McGuireWoods to harness the latest AI technology to address our clients’ critical business challenges and enhance the efficiency and effectiveness of our legal services,” said Peter Geovanes, McGuireWoods’ chief innovation and AI officer.
McGuireWoods continuously ranks among the leaders in Financial Times’ prestigious North America Innovative Lawyers report. McGuireWoods also has earned numerous honors for leveraging data analytics and technology capabilities to deliver solutions for clients, including recognition as a 2023 “Legal Technology Trailblazer” by The National Law Journal.
“McGuireWoods is a leader in legal services innovation and we are excited to partner with the firm to leverage the transformative capabilities of CoCounsel,” Casetext CEO Jake Heller said.