Advanced analytics, technology-assisted review, and generative AI empowers legal teams to be more proactive, productive, and powerful
WATERLOO, ON, Aug. 8, 2024 /PRNewswire/ -- OpenText? (NASDAQ: OTEX), (TSX: OTEX) unveiled its OpenText Axcelerate with Aviator, a groundbreaking innovation to its eDiscovery platform, recently enhanced in the company's Cloud Editions 24.3 product release. Designed for legal professionals, Axcelerate with Aviator elevates legal professionals through the power of Large Language Models (LLMs) to drive data-driven insights, mitigate risks, and lower eDiscovery costs.
OpenText logo (PRNewsfoto/Open Text Corporation)
In today's fast-evolving legal industry, the demand for efficient and cost-effective e-discovery solutions is at an all-time high. According to a recent survey conducted jointly by OpenText and Corporate Counsel Business Journal (CCBJ), 54% of corporate legal teams plan to leverage AI to free up time for high-value work, 52% aim to improve decision-making, and 48% seek to increase productivity. Generative AI is playing a significant role in this transformation, with its applications including document summarization, legal research, and compliance monitoring.
"Axcelerate with Aviator will revolutionize how in-house legal teams operate," said Michael Acedo, Chief Legal Officer at OpenText. "By leveraging the power of Large Language Models, Axcelerate with Aviator will automate document review giving legal professionals faster access to key facts and evidence to improve early data-driven decisions and gain a powerful strategic advantage in litigation and investigations. With these Cloud Editions 24.3 updates, Axcelerate with Aviator will provide insights that not only reduce e-discovery costs but also empower legal teams to make informed, risk-adjusted decisions."
Empowering Attorneys with Advanced AI
As legal professionals face mounting pressure to meet client demands and navigate intricate regulatory environments, Axcelerate with Aviator integrates generative AI capabilities, enabling attorneys to:
Find Facts Faster: Harness Gen-AI to swiftly uncover crucial information, allowing for timely and impactful strategic advice.
Enhance Efficiency: Save valuable time and resources by automating the categorization and summarization of data, reducing reliance on manual processes.
Gain Cost Certainty and Maximize Value: Access upfront Aviator LLM cost estimates and refine review criteria before committing to the full dataset, ensuring predictable and optimized expenditures.
OpenText at ILTACON 2024: Showcasing Innovation in Legal Technology
OpenText is proud to participate in the International Legal Technology Association (ILTA) and its flagship conference, ILTACON 2024. This premier educational and networking event, held from August 11-15 at the Gaylord Opryland Resort and Convention Center, brings together leaders, managers, and legal technologists from various organizations to explore innovative legal operation strategies.
At ILTACON 2024, OpenText will showcase the OpenText intelligent and composable Smart Legal Platform delivering AI-based solutions and trusted services that support and simplify a full spectrum of critical legal tasks and use cases to meet legal and compliance obligations. Key use cases include, but are not limited to eDiscovery, investigations, legal content management, knowledge management, data privacy and protection, data breach response, and contract intelligence. Attendees will have the opportunity to see demonstrations, including Axcelerate with Aviator, and engage with OpenText experts to understand how generative AI can revolutionize their eDiscovery processes.
OpenText invites attendees to visit Booth #831 to delve deeper into our eDiscovery and Legal Content and Knowledge Management solutions and services.
OpenText? is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at www.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
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