Amid the legal industry frenzy to leverage large multimodal models like ChatGPT, the business, IP & technology law firm Traverse Legal today launched Traverse AI™, the world's first customized web application built on AI that can answer very specific questions about a case, transaction or legal issue.
Traverse AI will disrupt the legal industry by "firing the first cannon blast against the old law firm business model that forces clients to wait until the attorney calls back to answer any questions - or even having to pay for those circular email conversations or for any research to identify information that will inform a business decision," said the firm's Managing Partner, Brian A. Hall.
He says too many law firms resist such resources out of fear of undercutting revenues, which is short sighted because if the client is better educated and their attorney has more time for the more important work, you'll focus on strategy, transaction outcomes and win more cases - and that's always good for business.
"We have always believed that an educated client makes better decisions, and better decisions lead to better outcomes," Hall said. "Smart lawyers are going to love AI - and those who don't embrace its value are going to be run over, if not ultimately replaced, by AI."
The revolutionary new tool combines GPT power with the hard work and know-how of a team of developers and attorneys, said Traverse Legal founding attorney Enrico Schaefer. Traverse AI was built to deliver unparalleled client intelligence for niche matters of law across a wide range of practice areas and industries, he said.
"It's the information around the question - the details, the context - that will get you to the genuine, in-depth, and responsive answer. You need sophisticated prompt engineering to provide the deep context to guide AI," said Schaefer, who spearheaded the development of Traverse AI. "If you want to ask ChatGPT about trademark law, for example, it will give you a generalized answer. But if you want a meaningful answer, you must know how to engineer the AI tool and steer it in the right direction."
Schaefer directed the prompt engineering and worked with top AI developers to ensure that Traverse AI excels at leading conversations with founders, CEOs, investors, and others most likely to need specific and informed answers while not running afoul of requirements that allow AI-based legal tools but disallow AI that dispenses legal advice.
Traverse AI is a free-to-use AI model committed to data privacy. No unencrypted user information is shared with OpenAI through the Traverse AI application, and no user data is used to train third-party AI models. This contrasts with the regular version of ChatGPT and other alternatives, which typically share personal information with their developer teams.
"Transparency and accountability are foundational to the legal services clients expect in the technology age, a pledge Traverse Legal has stood by for nearly 20 years," said Schaefer. "We not only represent new and emerging technology companies across a wide range of issues but actively integrate technology into our practice to deliver more value to clients with faster turn-around."