RAVN in Brief
RAVN, a cognitive reasoning engine developed with the legal industry in mind, features a number of flexible extraction programs optimized for delivering efficiencies in contract analysis, due diligence and other labour-intensive areas of legal practice. The RAVN ACE, or ‘Advanced Cognitive Engine’, puts machine learning to work to find, classify, extract, and predict information from large volumes of unstructured data in line with the platform’s ‘Power of Understanding’ philosophy.
Not concerned with Document Automation, RAVN’s current use-cases overwhelmingly address data extraction and intelligent legal compliance tasks. Moreover, since its acquisition by iManage in March 2017, RAVN’s horizons have been expanded to encompass data-driven approaches to traditional document management.
In the compliance area, platforms extend the capacity of data analytics software to use directed search procedures to find and fix breaches of regulation at a rate orders of magnitude faster than manual approaches. In the case of leading solutions, the accuracy of automated compliance checks has also come to surpass human efforts.
RAVN’s flagship compliance offering, RAVN ACE for GDPR, is aimed at businesses facing the enforcement of EU General Data Protection Regulations from May 2018. Ensuring compliance with these new rules is likely to be onerous and the penalties for breaching them are severe. RAVN’s solution is engineered to assess all relevant kinds of personal data wherever and however it is stored, classify it according to the GDPR taxonomy (standard, sensitive, etc.), and meaningfully summarize it for the host institution. It can also fulfil subject access requirements by integrating with other enterprise systems to provide portals through which clients can access information the host institution stores about them.