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By using Artificial Intelligence to predict costs of projects, an organisation will consistently be able to improve the accuracy of cost estimates over time, leading to a reduction in write-offs. The overall effect will be an increase in an organisation’s profitability.
RAVN Predict for Cost Projection
The solution exploits ground-breaking Artificial Intelligence algorithmic techniques to analyse an organisations historic data on similar projects to identify certain charateristics including value, duration, volume and staff, to calculate the cost prediction.
Legal Matters Budgeting System
Lawyers can tend to under-estimate how long it will take and how much it is likely to cost. This can result in under-estimation which could lead to the end client being disappointed, or the firm will suffer write-offs.
‘AI Matters’ is designed to exploit the latest Artificial Intelligence algorithmic techniques to analyse a firm’s previous similar matters and identify the key ‘matter complexity factors’. Once identified, the AI algorithm will be able to help the partner calculate the likely cost of a new matter, based on unique characteristics.
- As a trusted adviser and negotiation partner, we wanted to have first hand experience of a leading AI technology so we can advise on how it will change the workplace over the coming years to ensure we’re offering the most appropriate advice to our clients.Ole Møller, Vice President at Djøf
- This technology will bring us a flexible environment that is dedicated to our firm so we can ensure we can look after our clients as efficiently as possible. We chose to collaborate with RAVN as we recognised them as a leading AI provider and wanted their product to be part of the firm’s portfolio.Santiago Gómez Sancha, ICT Director at Uría Menéndez
- For our lawyers, time is very precious and we needed a fast, reliable and accurate search engine that was easily integrated into our existing systems. The team at RAVN proved they could tick all the boxes we required.Flavio Romerio, Partner at Homburger
- The software will read, interpret and extract key provisions from a client’s property lease agreements. This approach is a great supplement to manually laborious processes, and a stand-alone device in relation to certain standardized agreements and will mitigate risk from human errors and inconsistencies. SVW is happy to continue the collaboration with RAVN to further improve the SVW real estate robot.Peter Van Dam, Knowledge and IT Manager at Simonsen Vogt Wiig
- Garrigues are always looking for innovative ways to ensure we are providing the most efficient service to our clients. We chose to work with RAVN as they are leaders in the industry and able to deliver on both our current and future plans.César Mejias, IT Director at Garrigues
- RAVN's platform has allowed us to implement our vision of providing integrated, secure and effective access to our knowledge resources.Robin Hall, Head of Knowledge Management at Howard Kennedy
- RAVN is one of a number of innovative solutions that the business is implementing as part of IT's 2020 vision aligned to improve efficiencies and productivity benefits across the firmClive Knott, IT Director at Howard Kennedy
- Our primary goal here is to leverage knowledge to accelerate business and deal decision-making and to harness the collaborative power of a multi-geography growth markets organisation. RAVN Connect is an important component in a differentiation we bring to our investors around how we share knowledge and get to more dynamic decisions on deal flow. Additionally, it helps us harness macro-economic, sectoral and functional knowledge flows seamlessly and is ultimately a major competitive advantage for us.Ovais Naqvi, Managing Director – Head of Market Engagement at Abraaj
- It's likely to save us tens of millions of pounds in lost revenue.Horia Selegean, Head of Revenue & Margin Assurance at BT
- Sky are committed to using the latest innovations to ensure our customers receive the best possible viewing experience. RAVN’s AI component has allowed us to successfully automate the EPG review process which has dramatically reduced the review time as well as ensuring we maintain robust and compliant information">Angus Gairdner, Head of Content Planning Operations at Sky
- By adopting this innovative platform we are able to quickly focus on the high value and high risk contracts within large data sets, simply categorise and divide up tasks and ultimately provide a more responsive service to our clients. We are now looking to roll out the RAVN solution to live client matters within the firmLucy Dillon, Chief Knowledge Officer at Reed Smith
- The RAVN solution effortlessly made all of our operational content, valuable precedent and knowledge content discoverable within the firm’s chosen collaboration and Search platform, Microsoft SharePoint. As such, the disruption for users was negligible, yet the benefits from efficient search, preview and expertise location across a geographically distributed organisation have been significant.Jeremy Rooth, Director of Business Transformation & Knowledge Management