Arnab Dey, Co-Founder & CEO, DocLens.ai, A SaaS Legal Risk Technology platform
- Arnab Dey is the Co-Founder & CEO of DocLens.ai, A SaaS Legal Risk Technology platform.
Podcast
Overview
Technology is affecting every industry and god only knows what disruption might be next in what industry. From human resources to IT, artificial intelligence is being incorporated into a vast majority of industries. Only time will tell what will be the most appropriate uses of artificial intelligence and what will be the future of automation and human jobs. Today we talk to Arnab about how he is trying to help the insurance industry with the help of artificial intelligence.
00:32 – About Arnab Dey
- Arnab Dey is the Co-Founder & CEO of DocLens.ai, A SaaS Legal Risk Technology platform.
03:24 – What made you become an entrepreneur and what do you do at DocLens?
- I got involved with intelligent document processing in which we extract information from documents. The Financial Services industry being a very paper-intensive industry needed some tools to extract useful data.
- This data processing increases the cost for companies which ultimately gets passed down to the customers. I thought about how we can bring technology into this problem and solve it.
- I got into entrepreneurship because I realized that I have to work on the ground level to solve this problem and it seemed like the right path for me.
07:56 – How is technology changing the legal profession?
- Surprisingly, the legal industry has embraced technology, particularly over the last five years. They have embraced the proven technologies mainly in three areas.
- The legal profession has embraced technology in automating contract lifecycle management and for research purposes.
- We are very focused on identifying the risks within insurance documents so that we can take immediate actions to manage those risks.
16:12 – How are you handling the litigation risks?
- It would be antithesis if the product that is supposed to reduce risk is actually increasing the risk. So, we did three things to tackle this.
- First, we went out, and collected a huge data repository of third-party data. We ran our models on a testing data set of more than 6,50,000 contracts.
- Then we focused on our operating model. What we do is we let the lawyers prune out ultimately if there is a bad apple in the basket.
- We are working extensively to not only flag the risks but to also provide our customers with the next best action.
RESOURCES:
You can connect with Arnab Dey | LinkedIn
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Profile
Arnab Dey is the Co-Founder & CEO of DocLens.ai, A SaaS Legal Risk Technology platform.
