Accounting giant PriceWaterhouseCoopers LLP (PwC) will soon offer an AI-powered chatbot to 4,000 of its legal professionals.
The AI assistant platform will reportedly assist the Big Four firm in areas such as due diligence, contract analysis, and regulatory compliance work.
To incorporate the technology, PwC said it has partnered with the AI startup Harvey, which is backed by the OpenAI Startup Fund.
- Harvey is known for building custom large language models for law firms, such as London's Allen & Overy. Its software, built on OpenAI's GPT-4, can automate different parts of legal work.
- As part of a 12-month contract, Harvey will integrate its generative AI tech into PwC's legal services. The tech could, for example, summarize important clauses in contracts.
- The accounting firm also plans to create its own custom AI models and products using Harvey's platform, as well as find ways to integrate AI into its tax practice.
- PwC said the goal is to streamline legal work and help professionals operate faster, not replace attorneys or offer legal advice.
- The outputs from the chatbot will be reviewed by human staff, it added.
