As artificial intelligence pushes deeper into the legal industry, Fastcase and vLex are merging in a deal the legal research companies said Tuesday will speed up the creation of AI tools for lawyers.
"It will always make sense to train legal LLMs on legal data instead of the World Wide Web," Walters said. The combined company will license the dataset to other entities for use in creating their own large language models, Walters said.Generative AI has fueled a new tech gold rush since OpenAI's November debut of ChatGPT. Legal tech companies have joined in the frenzy and are already deploying new products for law firms and corporate legal teams.
The new vLex Group will have headquarters in Washington, DC, Miami and Barcelona. The products will keep the vLex name in global markets and the Fastcase name in the United States, reaching about 1.1 million US lawyers, according to Tuesday's announcement.