Intapp has introduced its new artificial intelligence (AI)-powered conflicts resolution capability. Built on top of Intapp’s active intelligence engine, Intapp Conflicts provides assisted clearance to help firms dramatically reduce the time spent on conflicts searches by quickly surfacing the true conflicts “hits” so they can work faster, more efficiently and more accurately.
Many firms perform tens of thousands of conflicts searches each year using a highly manual and inefficient process. This means that lawyers and support staff aren’t maximising the time they are able to spend on revenue-generating activities. Intapp Conflicts filters out the inherent “noise” and enables analysts to better focus their efforts and more quickly target results that require a lawyer’s attention.
The results of Intapp’s recent conflicts innovationprogram were telling: client firms spent an average of 8.2 person-hours on a typical conflicts-clearance effort from initial search to resolution. Using Conflicts with active intelligence, they slashed the amount of time spent on their conflicts clearance process by up to 60%. Based on program findings, it is projected that a typical large law firm could save between $6-10 million over four years, allowing the firm to scale cost-effectively and provide their lawyers with more time to focus on client success.
“Many law firms are looking to derive valuable insights from their data to make decisions faster with greater accuracy and efficiency,” said Jose Lazares, Intapp’s vice president of product and business management. “This is especially true with conflicts resolution, which is a critical part of the business acceptance process and one in which accuracy is critical. Now, with Intapp Conflicts, our customers can leverage actionable intelligence to automate and scale critical risk management activities.”