You may have observed the presence of an unfamiliar attendee in your video meetings recently – a meeting bot introduced by a human participant that generates a recording or transcription at the conclusion of the meeting. There are already several such products available, but what makes today’s news noteworthy is that CoCounsel.ai, the maiden legally nuanced meeting bot specifically designed to serve the needs of legal professionals, has been introduced in beta.
Created by DepoDirect, this meeting bot can participate in a legal event such as a deposition, hearing, or arbitration, employing a legal-specific AI-powered speech-to-text to deliver a legally formatted, highly accurate real-time transcript, plus features like bookmarking, tagging, and archiving.
Citing the unique requirements of legal procedures, particularly in areas like deposition and hearings, CoCounsel.ai provides a bot tailored to the legal industry. At the same time, the AI-generated transcripts and recordings offered by CoCounsel.ai are not intended to replace the official record of a deposition or a similar proceeding. Instead, they offer an affordable and convenient alternative to traditional real-time transcription services, along with the added advantages of a digital collaboration platform and archive.
Upon activation in a meeting, CoCounsel.ai produces a live transcription, with an understanding of when participants engage in dialogue or question and answer, formatting the transcript appropriately. The running transcript can be bookmarked or commented on at any point during the proceedings, and all notes are preserved along with the transcript. The transcript is also fully searchable. The company reports an accuracy rate of 90% or better, making it a viable alternative to traditional deposition methods.
Future enhancements to the product are planned. These include being able to enable others on a lawyer’s team to remotely observe the real-time transcription, listen to audio and video of the proceeding, and integrate the live transcript with exhibits and other litigation-related documents. Furthermore, generative AI features will be introduced, providing a comprehensive base for query and search operations, with potential considerations for sentiment analysis further down the road.
While not finalized, pricing for the service will reportedly be based on a SaaS model, targeting appeal to smaller firms with a structure allowing pass-through billing of costs to clients. The product is currently being offered in a closed beta, with potential participants invited to sign up for the waitlist on the company’s website.
If interested, follow the link here for more comprehensive information about CoCounsel.ai.