Advanced analytics, technology-assisted review,
and generative AI empowers legal teams to be more proactive,
productive, and powerful
WATERLOO, ON, Aug. 8, 2024
/CNW/ -- OpenText™ (NASDAQ: OTEX), (TSX: OTEX) unveiled
its OpenText Axcelerate with Aviator, a groundbreaking innovation
to its eDiscovery platform, recently enhanced in the company's
Cloud Editions 24.3 product release. Designed for legal
professionals, Axcelerate with Aviator elevates legal professionals
through the power of Large Language Models (LLMs) to drive
data-driven insights, mitigate risks, and lower eDiscovery
costs.
In today's fast-evolving legal industry, the demand for
efficient and cost-effective e-discovery solutions is at an
all-time high. According to a recent survey conducted jointly by
OpenText and Corporate Counsel Business Journal (CCBJ), 54% of
corporate legal teams plan to leverage AI to free up time for
high-value work, 52% aim to improve decision-making, and 48% seek
to increase productivity. Generative AI is playing a significant
role in this transformation, with its applications including
document summarization, legal research, and compliance
monitoring.
"Axcelerate with Aviator will revolutionize how in-house legal
teams operate," said Michael Acedo,
Chief Legal Officer at OpenText. "By leveraging the power of Large
Language Models, Axcelerate with Aviator will automate document
review giving legal professionals faster access to key facts and
evidence to improve early data-driven decisions and gain a powerful
strategic advantage in litigation and investigations. With these
Cloud Editions 24.3 updates, Axcelerate with Aviator will provide
insights that not only reduce e-discovery costs but also empower
legal teams to make informed, risk-adjusted decisions."
Empowering Attorneys with Advanced AI
As legal professionals face mounting pressure to meet client
demands and navigate intricate regulatory environments, Axcelerate
with Aviator integrates generative AI capabilities, enabling
attorneys to:
- Find Facts Faster: Harness Gen-AI to swiftly uncover
crucial information, allowing for timely and impactful strategic
advice.
- Enhance Efficiency: Save valuable time and resources by
automating the categorization and summarization of data, reducing
reliance on manual processes.
- Gain Cost Certainty and Maximize Value: Access upfront
Aviator LLM cost estimates and refine review criteria before
committing to the full dataset, ensuring predictable and optimized
expenditures.
OpenText at ILTACON 2024: Showcasing Innovation in Legal
Technology
OpenText is proud to participate in the International Legal
Technology Association (ILTA) and its flagship conference, ILTACON
2024. This premier educational and networking event, held from
August 11-15 at the Gaylord Opryland
Resort and Convention Center, brings together leaders, managers,
and legal technologists from various organizations to explore
innovative legal operation strategies.
At ILTACON 2024, OpenText will showcase the OpenText intelligent
and composable Smart Legal Platform delivering AI-based solutions
and trusted services that support and simplify a full spectrum of
critical legal tasks and use cases to meet legal and compliance
obligations. Key use cases include, but are not limited to
eDiscovery, investigations, legal content management, knowledge
management, data privacy and protection, data breach response, and
contract intelligence. Attendees will have the opportunity to see
demonstrations, including Axcelerate with Aviator, and engage with
OpenText experts to understand how generative AI can revolutionize
their eDiscovery processes.
OpenText invites attendees to visit Booth #831 to delve deeper
into our eDiscovery and Legal Content and Knowledge Management
solutions and services.
Additional Resources
- Learn more about the latest innovations with Cloud Editions
24.3
- Find more information about the benefits of OpenText Axcelerate
with Aviator GenAI
About OpenText
OpenText™ is the leading Information Management software and
services company in the world. We help organizations solve
complex global problems with a comprehensive suite of Business
Clouds, Business AI, and Business Technology. For more
information about OpenText (NASDAQ/TSX: OTEX), please visit us at
www.opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's
blog
Twitter | LinkedIn
Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
Such social media channels may include the Company's or our CEO's
blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please
visit https://www.opentext.com/patents.
OTEX-G
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SOURCE Open Text Corporation