Today marks the official launch of Josef’s advanced software tool, Josef Q, out of beta and into general commercial availability. As previously reported, Josef Q utilizes advanced AI to convert complex policies and regulations into digital Q&A tools.
This sophisticated tool aims to solve the problem of business and clients engaging with complex legal and compliance content. Studies suggest junior lawyers spend up to 20% of their time answering FAQs, and businesses often fail to comply with essential regulations. Responding to these queries efficiently could prove considerably beneficial, both from regulatory and productivity standpoints.
The launch event is being hosted in New York City today. The event will feature speakers from eminent organizations such as EY, Orrick, and New York University, and will also be livestreamed at 7 p.m. Eastern time.
Over the past six months, Josef Q underwent a series of rigorous developments and tests in association with law firms like Orrick and Gunderson Dettmer, in-house legal teams at various corporations such as Bupa and Ferring Pharmaceuticals, and prestigious institutions like NYU Law School and Cornell Tech. Evidence from the proof of concept test shows promising applications in areas like legal, compliance, privacy and data, HR, legal operations, and tax.
The implementation of this transformative technology is expected to deliver immediate value. Designed in association with OpenAI, Josef Q is anticipated to assist legal, compliance, information security, and HR teams in providing employees with instant answers about corporate policies and procedures.
The digital tool’s use cases already include providing automated guidance on landlord-tenant laws in Ithaca and New York City, helping customer-facing teams in a financial services company identify and deal with vulnerable customers in compliance with regulatory requirements, and even answering questions on new tax laws and regulations, such as the Inflation Reduction Act.
Tom Dreyfus, CEO and co-founder of Josef, has affirmed Josef Q’s readiness for legal and compliance teams. The tool combines LLMs’ potent capabilities of summarization with proprietary features like pre-processing, human-in-the-loop training and moderation, and end-user interface design elements. The tool also integrates with Office 365 environment, potentially making it a go-to solution for professionals operating in high-stake environments.
Learn more about Josef Q here.