CHICAGO, Aug. 8, 2019 /PRNewswire/ -- Corporate legal departments and law firms around the world have begun using legal AI technology to streamline their processes. Among other functions, AI-powered solutions gather and analyze legal information and predict future outcomes. Some other applications of Legal AI software include e-discovery, legal research, document review, due diligence, Intellectual Property (IP) management, compliance, case prediction, contract lifecycle management, divorce automation, e-billing, and knowledge management.
360Quadrants, the most granular comparison platform, has released a startup quadrant on Legal AI Software to help businesses make quicker and more informed decisions. This quadrant has placed PracticeLeague Legaltech, Luminance Technologies and Ross Intelligence in the progressive company space. 360Quadrants are generated post analysis of the product portfolios and business strategies of all companies in a particular space. Quadrants are updated every three months based on market and regional analyses and developments in the Legal AI Software segment.
Legal AI Software Quadrant Highlights
360Quadrants covers 25 startup companies in the Legal AI Software space and places them in a quadrant based on their quality, reliability, and business outcome. 22 of these companies are categorized as Progressive Companies, Responsive Companies, Dynamic Companies, and Starting Blocks.
360Quadrants recognizes PracticeLeague, Luminance Technologies, Leverton and Ross Intelligence as Progressive Companies; Lawpavilion as a Responsive Company; LegalRobot, Pensieve and Autto as Starting Blocks; and BrightFlag and Nalandar Technology as Dynamic Companies. The 360Quadrants platform provides the most granular comparisons of Legal AI Software startup vendors.
The methodology used to rank startup vendors of Legal AI Software involved the use of extensive secondary research to identify key vendors by referring to press releases, investor presentations, white papers, funding, revenue, growth potential, business idea's and various related directories and databases. 22 startup vendors were shortlisted based on their breadth of product offerings, organization size, and several other criteria. The scores and weights for shortlisted vendors against each parameter were finalized after extensive research. After the finalization of ratings, each vendor was placed in the most relevant quadrant based on their score in the product offering and business strategy parameters.
360Quadrants is the only rating platform for vendors in the technology space that combines data from buyers, vendors, expert, and inhouse analysts. The platform provides users access to unbiased information which helps them make qualified business decisions. 360Quadrants enables vendors to influence the business decisions of potential clients. Vendors get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and start-ups alike. 360Quadrants aims to simplify and de-risk complex purchase decisions by providing buyers with real-world insights from their peers, industry experts, analysts, and vendors, helping buyers make more informed decisions and finding the best-fit solutions faster. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
360Quadrants has also launched quadrants in fields like Predictive Analytics Software, Digital Transformation Solutions, Voice Assistant Application and Security as a Service.
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