For decades AI was seen as a mythical creature, but the dragon finally revealed itself to the masses when OpenAI released ChatGPT in January 2023. Like many others, we knew that the course of technology would fundamentally shift – this was just the beginning.
Throughout 2023, we saw AI evolve dramatically, transitioning from crawling to running in just months. Multiple industries have been and will continue to be impacted by AI advancements because it is a productivity tool. AI has already proven itself capable of providing large-scale efficiencies and unparalleled accuracy, reducing errors and workflow obstacles. So the question we in the conveyancing industry need to ask ourselves is, “What if?” because there is unlimited possibility in what we can now do.
Our ethos, “Because the experience matters”, illustrates our never-ending commitment to building an unparalleled user experience at every touchpoint: customer success, sales, marketing and product. Since the beginning, we have been diligent in marrying subject matter expertise with innovation to develop a platform that is both practical and applicable to conveyancers. So far, the feedback and success have been remarkable. However, as we continue on our mission to innovate, we are asking ourselves two questions:
- What if?
- Will the innovation be used?
Just because a technology advancement is all the rage doesn’t mean it needs to be adopted, but in the case of AI, it makes total sense. Integrating it throughout GoVeyance would enable conveyancers to save multiple minutes per file and achieve a new level of accuracy. While our “What if” won’t be done tomorrow, we are starting to develop the road map; more importantly, we are thinking like it’s 2030 versus 2024.
The legal industry, historically, has been resistant to new technologies, but that’s changing…and it’s changing fast. Legal tech is now a $28B global vertical and it’s transforming the way business is being done:
- Spellbook is a platform that uses natural language processing (NLP) and machine learning (ML) to automate contract drafting, review, and negotiation. It can generate custom contracts based on user inputs, identify key clauses and risks, and suggest optimal terms and outcomes.
- Harvey is a start-up that aims to disrupt the legal sector by using generative AI to provide legal advice and services. It has received financial backing from OpenAI and Sequoia, two of the most influential players in the AI field. Harvey claims to be able to generate accurate and relevant answers to legal questions, as well as draft documents, perform research, and handle disputes. Harvey could very well be a ‘copilot for the legal sector’, augmenting the capabilities of lawyers and clients alike.
Taking cues from our clients and learnings from our deep dive into the capabilities of AI, we have started building our AI solution, GoBot. GoBot will be the brand that houses all of our AI features. The first features are now live – OCR for Tax Certificates and CIRs. The CIR innovation is an industry-first and truly an efficiency game changer.
We are just dipping our toe into the water, but with this team asking “What if”, the future at GoVeyance is open to unlimited potential and possibilities.
To learn more about our new OCR for Tax Certificates and CIRs, please read the release notes, which can be found by clicking here.