Step into the realm where AI prowess converges with the complexities of governmental regulations: Abstract invites you on a transformative journey.
As the premier AI-powered project management and intelligence platform, Abstract is at the forefront of unraveling the intricacies of current and evolving government policies. With its groundbreaking Legislative Language Model (LLM) and access to over 1 million legislative and regulatory records in California alone, Abstract empowers corporate legal teams, lobbying firms, associations, and government agencies to navigate the regulatory maze with unparalleled precision. Founded in 2019, Abstract's mission is clear: to preemptively decode legislative impacts, allowing clients to craft strategies that shape their bottom line in real-time.
As a proud member of the new Startup Gallery for Legal Innovators in California, situated in San Francisco, Abstract stands as a beacon of innovation, reshaping the future of decision-making in enterprise-level environments. Join us as we explore Abstract's revolutionary approach to regulatory intelligence and discover how it's reshaping the landscape of legal innovation.
What inspired the creation of Abstract? Could you share the story behind its inception and what drove you to enter the legal tech industry, pioneering innovation in this space?
Lack of access to government impact. The government, whether it be at the local, state, or federal level impacts everyone, with thousands of changes made to laws and regulations on a daily basis. Abstract started as an AI research project out of LMU to take this problem head on. We started with basic natural language processing algorithms that allowed us to make high level Abstracts of California bills. We were set on making a social network platform that would allow anyone to track their state’s bills based on issue area, and collaborate with others with similar concerns. We then pivoted to full B2B: tackle regulatory risk & opportunity identification for any non-profit, corporate enterprise, and respective consultants (law firms & lobbying firms). The end goal is to empower anyone to understand how their government impacts them, and to empower all individuals, small business, small enterprise, and corporate to have influence and leverage on regulatory outcomes.
Peering into the future, in what ways do you envision technology reshaping the legal landscape?
Adoption of technology in the legal landscape is drastically changing how lawyers, law firms, and in-house legal departments are operating on a daily basis. With advanced technology, legal hours can now be maximized – with AI-powered tech alone, the distillation of time-sensitive data has become significantly faster, and in many cases more thorough. Locating risk and opportunity is becoming a more proactive endeavor than ever before.
What challenges do you believe innovative leaders face when implementing new solutions and processes in their teams, especially within the legal tech domain? Furthermore, what strategies or solutions do you envision might effectively address these challenges and drive successful adoption and integration?
Being an innovative leader is no easy feat. Creating new technology introduces a steep learning curve for a team and constant re-evaluation. The impetus to adopt new technology on a team has to be driven by clear goals – leaders need to know what they want to get out of the technology they are implementing, so they can continuously assess whether the solution is meeting their needs. The better a team becomes at gauging tech effectiveness, the quicker it becomes to innovate.
Communication and sign-off from all teams are imperative to effective implementation and innovation – everyone needs to be on the same page when it comes to testing new tech! Over time, you’re bound to find your champions, the early adopters of your tech; you will also encounter the folks who are open to your solutions but want it vetted by others first; you’ll also run into many folks who are averse to adopting new technology entirely. Funnel your energy into your champions and remember that stagnation is the death of innovation.
What aspects of the event are you most excited about this year?
Seeing the new and emerging technologies rapidly changing the LegalTech space.
With Abstract and our fellow Start-Up Gallery companies at the forefront of innovative legal tech, Legal Innovators California is positioned to become the central hub for the transformation for the industry.
Secure your Final Release Tickets now and join us to connect with an array of legal innovators at Legal Innovators California:
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