Hot on the heels of raising $5.2 million in November last year, legal tech Josef has today unveiled its latest technical innovation - an AI-powered program that turns policies and regulations into digital knowledge management tools.
Called Josef Q, the new OpenAI-powered product will help businesses answer frequently asked questions (FAQs) quickly, accurately, and in layman’s terms so that anyone can understand the technical jargon.
The Melbourne-based legal software provider that allows lawyers to automate document drafting, client interactions, contracts and advice through its no-code platform will launch a free beta version of Josef Q next week at Legalweek in New York.
“For teams like legal, compliance, information security and HR, which are constantly under pressure to do more with less, Josef Q gives them the power to deliver instant answers to questions about policies and other complex content,” said Josef co-founder and CEO Tom Dreyfus, who started the company with Kirill Kliavin and Sam Flynn.
“This is a high-tech knowledge management tool that dramatically reduces the time spent answering FAQs for professionals who should be – and want to be! – spending their time on higher value work.”
The CEO added that it was important that the AI-powered tool was launched to the public for free.
“Josef’s mission is to make legal services more accessible, and so it makes perfect sense for us to do the same with our technology,” Dreyfus said.
“The more open, transparent and collaborative we can be as a community, the better placed we are to change the way legal work is done for the better. Josef Q is the next step in that journey for Josef.”
According to the legal tech - which previously raised $2.5 million in 2021 to expand its product linuep and counts MinterEllison, Herbert Smith Freehills and the American Bar Association as clients - Josef Q will be powered by OpenAI’s most advanced large language model, with performance enhanced by human-in-the-loop training and moderation.
Headquartered in San Francisco, California, OpenAI is the company behind wildly popular AI tools including language model ChatGPT and image generator DALL-E.
Josef says its approach to the OpenAI model enables subject matter experts to quickly and efficiently train their tools to provide highly accurate answers about a defined content set, such as privacy, data, HR and procurement policies.
As such, the company claims ‘Josef Q’s curated knowledge base changes the equation’ and will deliver accurate results.
The co-founder said Josef Q would improve upon existing knowledge management and FAQ tools, which require time, effort and skill to manually build. Josef’s tool meanwhile enables users to simply upload policies, process or regulations, train it with a handful of questions, and launch ‘in minutes’.
“The end-user experience is advanced compared to traditional knowledge management tools,” Dreyfus said.
“Josef Q is dynamic and engaging, with the user accessing incredible accurate answers in seconds.”
Megaport (ASX: MP1) senior legal counsel Mel Scott said seeing Josef Q in action was ‘an ‘a-ha moment’.
“Applications are far-reaching and incredibly exciting. In-house teams will be able to synthesise large amounts of information to help them deliver accurate advice back to their business colleagues on virtually any topic,” Scott said.
“It represents a revolution and it will change the game.”
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