PR
Moiz Shirazi, AB ’00, MBA ’07, and his company are taking advantage of the AI boom to create the world’s most comprehensive database of legal risks.
Time-intensive and costly, compliance and due diligence operations account for a significant chunk of the US legal industry, a $400 billion market. With the explosion of artificial intelligence–powered technology, though, these manual workflows are ripe for automation. Legal data analytics company Scorealytics, founded late last year by Moiz Shirazi, AB ’00, MBA ’07, is taking advantage of this technology boon.
The goal of Scorealytics is to build and maintain the world’s most comprehensive database of legal risks relating to trade, data privacy, employment law, intellectual property, tax legislation, and other issues. These risks, which include geopolitical, macroeconomic, and other globally disruptive forces, can then be analyzed to predict outcomes.
“Score’s algorithms analyze over 250 distinct areas spanning more than 100 jurisdictions,” Shirazi says. “We’re also training our large language model to summarize, translate, and identify emerging trends from which predictions can be made based on complex cross-correlations, probability modeling, and machine learning. Score’s mission is to identify these connections earlier and predict previously unknown patterns. We can predict legal risks and trends a year or more in advance of the headlines.”
The company, headquartered in Park City, Utah, has 35 employees, including 15 software engineers. It spun off from Baker McKenzie, a Chicago-based global law firm where Shirazi was a principal for many years, which retains a 35 percent interest in Scorealytics. Shirazi, who serves as CEO, says the company estimates its first-year revenues will be $3 million and projects them to grow to $10 million by spring 2026.
Shirazi’s Booth years predate the mainstream introduction of AI by more than a decade. Even so, he says, “The idea behind the company originated from a combination of three courses I took at Booth: Marketing, Investments, and Entrepreneurship. Back then, we did not have the computer technology and data analytics to conduct this type of analysis. But as soon as AI started to take off, I knew I could pick up my idea and implement it.”
https://www.chicagobooth.edu/magazine/using-AI-to-analyze-legal-risks
