Silicon Valley is no longer thinking just about video chats or on demand services, such as Uber. Is a robotic lawyers buffet coming?
Justin Kan, a recognized 34 years old businessman who knows a lot about startups and developed the videogame Twitch, which was sold to Amazon for almost USD 1,000 million in 2014, is working on this idea. He is the same person who helped launching hundreds of companies as a partner in the incubator Y-Combinator.
Kan is currently focused in Atrium, the lawyers’ buffet of the future.
In this firm, lawyers answer questions from a list of customers who want to carry on legal tasks, such as recollection of risks capital funds and the issuance of shares for employees. Engineers are closely following these processes and they extract information of the conversations and documents exchanged. They are trying to build a technology that automatizes the tasks and functions that human beings are developing.
The goal is to create a lawyers firm filled with technology, which may provide more efficient services in a transparent legal platform.
In the last couple of years the automation tools and artificial intelligence have become more sophisticated, and they currently affect professional work. Administrative and financial assistants have become the goals of this software.
McKinsey estimates that 35% of every professional task may be automatized. Kan’s work is in its initial phase. Right now, he is hiring lawyers and he is not turning them into obsolete professionals. The office has six lawyers, and several other paralegals and engineers. Two of its three cofounders, Augie Rakow and Bebe Chueh, are lawyers (the other, Chris Smoak, is an engineer and businessman).
Kan explains that he felt attracted by the idea of the frustration around an archaic industry that he had to work with continuously during his experience funding and selling startups.
“I have raised money, done mergers, been sued and bills kept on accumulating and I did not have a clear idea of what I was paying”, he regrets.
One of the most innovative characteristics of Atrium is its business model, focused on transparency. The firm does not charge per hour. Atrium estimates the amount of work it expects to develop for every client and charge a unique monthly fee, regardless the number of hours worked. Up to this date, it has helped its clients raise USD 94 million.