Prestigious Annual Awards Program Recognizes Companies and Products Driving Innovation in the Global Legal Industry
LOS ANGELES, Nov. 22, 2024 (GLOBE NEWSWIRE) -- LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe, today announced ClauseBuilder AI from the American Arbitration Association (AAA®) and its international division, the International Centre for Dispute Resolution® (ICDR®), has been selected as the winner of the "Overall LegalTech Innovation of the Year” award in the 5th annual LegalTech Breakthrough Awards program.
ClauseBuilder AI empowers users to efficiently draft clear and effective arbitration and mediation clauses tailored to their specific needs. The solution leverages generative AI advancements in natural language processing and machine learning to understand user intent and deliver tailored clause suggestions. This intelligent guidance and its user-friendly interface allow those without extensive legal expertise to create customized alternative dispute resolution (ADR) agreements. The free tool is designed for legal professionals and anyone who needs help drafting arbitration and mediation clauses.
Parties can design their preferred ADR process by customizing the arbitration or mediation clause in their contract. ClauseBuilder AI, built upon OpenAI's GPT-4o platform, allows users to input parameters and specific requirements related to the desired clause. The AI tool then generates a draft clause that can be further customized and refined. The generally applicable clauses are not designed to meet the requirements of a specific jurisdiction, so users should verify that the clauses meet the requirements of their jurisdiction.
The database of ADR clauses from which ClauseBuilder AI pulls clause language can be updated as AAA updates or revises its clauses. To ensure the confidentiality of user inputs, ClauseBuilder AI does not conduct any analysis on generated clauses and does not use any user prompts to train the AI. However, the AAA may analyze user feedback and resulting output to fine-tune the tool's operation.
"AI has the potential to transform ADR, and we are designing processes and solutions that democratize access to ADR. ClauseBuilder AI supports our mission to promote fair and efficient dispute resolution by simplifying the entry point,” said AAA President and CEO Bridget McCormack. "It is an honor to be recognized by LegalTech Breakthrough for this first step along the way to transforming the ADR process with AI.”
The mission of the annual LegalTech Breakthrough Awards program is to conduct the industry's most comprehensive analysis and evaluation of the top technology companies, solutions and products in the legal technology industry today. This year's program attracted thousands of nominations from over 12 different countries throughout the world.
"ClauseBuilder AI embodies a significant advancement in modernizing dispute resolution. A well-written dispute resolution clause is the foundation of an effective dispute resolution process. Individuals in the middle of serious disputes are looking to avoid the hassle and expense of a court case. AI-powered ADR offers another alternative to litigation,” said LegalTech Breakthrough Managing Director Bryan Vaughn. "ClauseBuilder AI revolutionizes how arbitration clauses are drafted, making the process more accessible, efficient and equitable. This innovative tool exemplifies how AI and collaborative efforts can streamline complex processes, delivering value to legal professionals and their clients. Congratulations to AAA for winning the 'Overall LegalTech Innovation of the Year' award!”
About LegalTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the LegalTech Breakthrough Awards program is devoted to honoring excellence in legal technologies, services, companies and products. The LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of LegalTech companies and solutions in categories including Case Management, Client Relations, Data and Analytics, Documentation, Legal Education, Practice Management, eDiscovery and more. For more information visit LegalTechBreakthrough.com
Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
About the American Arbitration Association
The not-for-profit AAA is the leading provider of alternative dispute resolution (ADR) services. It has administered more than eight million ADR cases since its founding in 1926. With 29 offices in the United States and Singapore, the AAA provides organizations of all sizes in virtually every industry with ADR
services and products. For more information, visit http://www.adr.org.
About the International Centre for Dispute Resolution
The International Centre for Dispute Resolution is the international division of the AAA and the largest international provider of dispute resolution services. Established in 1996, the ICDR serves parties from over 100 countries with multilingual staff experienced in international dispute resolution proceedings and a roster of over 725 arbitrators and mediators. For more information, visit www.icdr.org.
Media Contact:
Bryan Vaughn
LegalTech Breakthrough Awards
Bryan@LegalTechbreakthrough.com
949.529.4120
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