Well.. let’s hope its the case
Here’s their pitch I have to say i follow my grandmother’s oft said, “Don’t Believe Everything You Read”… but maybe just maybe?
At Wolters Kluwer’s ELM Amplify 2024, ELM Solutions showcased our dedication to responsible AI development. With a focus on trust, transparency, and accountability, the session “Your Trusted Partner Committed to AI Innovation” offered a glimpse into how the company is shaping AI solutions to tackle complex challenges in corporate legal and insurance claims departments while adhering to our core values.
Developing AI responsibly
Responsible AI development goes beyond creating innovative tools—it ensures that these technologies are built ethically and operate transparently. At Wolters Kluwer, this commitment is formalized through an AI assurance framework, a guiding set of principles designed to:
- Prioritize privacy, governance, and accountability
- Ensure transparency and explainability in AI outputs
- Integrate human oversight to validate and improve outcomes
- Maintain fairness, safety, and security throughout the AI lifecycle
This responsible framework not only builds trust with our users but also reflects the company’s focus on societal and environmental well-being.
In addition to adhering to Wolters Kluwer guidelines, ELM Solutions follows a structured and universal approach when developing our AI solutions. These foundational steps are critical to ensuring quality, privacy, and usability in AI outputs:
- Understanding business challenges: This involves listening to our clients to become familiar with the specific problems and challenges they face and analyzing the data they collect relating to their business goals.
- Data acquisition and feature engineering: We then prepare and structure relevant data to make it meaningful for AI models.
- Model training and evaluation: We train models while capturing artifacts, such as AI input and output. This ensures repeatability and enables developers and data scientists to make improvements.
We take a rigorous approach to developing these tools because we understand both the complexities of our clients’ needs and the importance of trust in the solutions they choose.
The ELM Solutions team has integrated AI into several solutions, delivering practical benefits to corporate legal departments and law firms, including:
- LegalVIEW BillAnalyzer: AI-assisted legal invoice review analysis that identifies billing discrepancies to ensure compliance with guidelines
- Intelligent Invoice Conversion: Paper invoice conversion that simplifies and streamlines the digitization of traditional paperwork
- Predictive Insights: Law firm data and rankings to help ensure the best choice of outside counsel is assigned to each matter
These tools not only improve productivity but also allow users to focus on strategic decision-making rather than administrative tasks.
A focus on users
While AI promises transformative results, it is not without its challenges. One key takeaway from the session was the necessity of human oversight in validating AI outputs. Perfect accuracy remains elusive, and collaboration between AI and humans is essential to ensure reliable and actionable results. For example, Wolters Kluwer is exploring ways to “chunk” documents, processing only relevant sections instead of ingesting entire files. This improves efficiency and minimizes unnecessary data handling.
ELM Solutions remains steadfast in its user-first approach, inviting feedback from customers to continually refine its AI capabilities. This commitment aligns with our broader goals which aim to:
- Deliver best-in-class customer experiences
- Help clients efficiently manage legal spend
- Improve outcomes and resolution times for legal matters
This focus on innovation and user satisfaction reinforces Wolters Kluwer’s position as a trusted partner for corporate legal departments navigating today’s challenges.
Roadmap to innovation
Looking ahead, ELM Solutions’ strategy centers on three pillars:
- Enhancing core products: Building scalable solutions for long-term success
- Addressing real-world challenges: Innovating with solutions that materially help clients achieve their business goals
- Driving growth: Expanding capabilities while maintaining alignment with responsible AI principles
In addition, by exploring partnerships with other technology providers, Wolters Kluwer is set to combine our own AI expertise with that of other technology leaders, enhancing legal service processes even further.
At ELM Solutions, our goal is not just to develop tools but to set a standard for ethical, transparent, and beneficial AI use in the legal industry. As we continue to innovate and evolve, we remain dedicated to user-centric solutions and helping our customers navigate complexity with confidence.
Hear more about the benefits of AI for legal ops and the ELM Solutions approach in the ELM Solutions’ AI team celebrates five years of continued success episode of our Legal Leaders Exchange podcast.
