PwC’s partnership with the AI-powered legal startup Harvey should help its network of 4,000-plus legal professionals reduce the amount of time they spend on projects requiring the review of thousands of documents.
But Bivek Sharma, head of AI for PwC’s Global Tax and Legal Services, said he’s most excited about the potential for the artificial intelligence technology to comb through large amounts of data and quickly generate detailed insights that will help lawyers better advise their clients.
He suggested PwC’s use of Harvey’s generative AI technology will prove valuable in the areas of due diligence, regulatory compliance and contract analysis, among others.
“If you are as an organization looking at this as a pure kind of hours-saving play, I think you’re kind of completely missing the point around AI,” Sharma told Legal Dive. “I think the people in the market who are really going to get the most out of this are the ones that are looking at the insights that we can drive, the additional value over and above what we’re able to achieve right now.”
PwC announced its strategic alliance with Harvey in March, and said it was given exclusive access to the platform among the Big 4 accounting firms.
Harvey, which is built on technology from ChatGPT creator OpenAI and is backed by OpenAI’s startup fund, uses large language models to automate and enhance different aspects of legal work.
Sharma said PwC is currently testing use cases its Legal Business...
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