The Luxembourg law firm Arendt has teamed up with Predictice to simplify the research and analysis of legal information. The French LegalTech startup with 30 employees already is extending its activities to Luxembourg. We met its founder, Louis Larret-Chahine, during the latest “Electrochoc Numérique” conference and had a chat to learn more.
Photo: Louis Larret-Chahine / Credits © Predictice
Tell us about your startup.
Predictice is a legaltech company that simplifies the search and analysis of legal information through artificial intelligence. On this platform, legal professionals can find a court decision by its meaning, calculate the chances of success of a dispute, the amount of compensation, or identify the most influential elements in the decision-making process.
How did you come up with the idea?
Research proved it was increasingly difficult to invoice, legislative inflation, “legal uncertainty, etc. While finding the right information for a lawyer should be simple, it is often the obstacle course.
The Luxembourg Bar knows these issues well. Between the difficulty of access to court decisions and the explosion of legal documentation, Luxembourg’s 2,320 lawyers are faced with more complex challenges every year.
The problem is exactly the same in France – and it is precisely to remedy this situation that Predictice was created in Paris in 2016.
What is your vision for the future of the legal profession?
The power of technology is immense. It has enabled humanity to overcome epidemics, collect the energy of the sun and wind, and go into space. Thanks to artificial intelligence, a new field of progress is opening up – a transformation from which legal professionals will fully benefit. Automatic legal language processing tools will not make lawyers or jurists disappear but instead strengthen their added value.
What is your business model?
Predictice is charged in the form of a subscription, the price of which varies according to the number of licenses. The subscription also includes extremely reactive assistance, training and on-demand court decisions.
“Predictice is revolutionizing the way lawyers find and analyze legal information. The performance gains made possible by Predictice are such that the entire legal sector will gradually transform itself, for the better.”
Who are your clients?
Predictice is used by 56 of the 100 largest Parisian law firms, 2000 lawyers across France, many insurance companies and 40 legal departments under CAC.
Today, we took it to the next level in Luxembourg by signing an alliance with Arendt. Throughout 2020, the teams in charge of product development at Predictice, its lawyers, and documentation managers will work together to iterate on current developments and envision the functionalities of tomorrow.
In any case, for Predictice, the objective is always the same: to become the indispensable asset for the best lawyers.
How are new technologies revolutionizing the legal sector?
It is still our customers who speak best about it! I will therefore limit myself to quoting Jean-Marc Ueberecken, Managing Partner at Arendt. “Predictice is revolutionizing the way lawyers find and analyze legal information. The performance gains made possible by Predictice are such that the entire legal sector will gradually transform itself, for the better. It had become essential for Arendt to have such an effective weapon.”
Can this progress be reconciled with the ethics of lawyers?
Working at the heart of justice effectively means having to comply with special rules.
This is why we participate in the Ethics and Scientific Committee on Predictive Justice Ethics and Scientific, which oversees our actions and lays down certain rules, such as the prohibition of the operation of Predictice in the field of criminal law.
I am convinced that respect for the ethics of the legal profession and collaboration with institutions are essential principles for the renewal of the world of justice on a sound basis.
This is also why we have launched a programme for educational institutions to disseminate and reflect on this new knowledge. We have subscribed some of the best French universities and one day hope to do the same with the University of Luxembourg!