This AI legal assistant will change your life

Introduction

In an era of rapid technological advancements, the legal industry is not immune to the transformative power of artificial intelligence. Julie Saltman, a former civil litigator with the Justice Department, recognized the immense potential of AI in the legal sector and took the plunge into entrepreneurship by founding stand.io—an AI-powered search and analysis platform specifically designed for lawyers.

Julie Saltman's Journey

After years of handling high-profile cases for the Obama Administration, Saltman found herself frustrated with how much valuable time was wasted sifting through extensive legal documents. Many lawyers and litigators lose a significant chunk of their workday, often estimated at upwards of one-third, simply searching for snippets of information in disorganized archives. Tasked with the responsibility of quickly finding relevant case law, arguments, and documents for court proceedings, Saltman identified a gap that technology could fill.

Stand is designed to help mitigate this inefficiency. The platform integrates with existing document management systems to provide lawyers with the ability to search through their internal data using natural language. Instead of getting long lists of documents, Stand delivers precise excerpts and contextual summaries based on user queries. As a testament to its capabilities, Stand recently launched a public-facing version called “scotus AI,” which allows users to query every Supreme Court decision ever issued, demonstrating the platform's potential and utility.

The Impact of AI and Founders Programs

With the recent explosion of AI technologies like ChatGPT, Saltman saw a timely opportunity to refine her product. The cost reductions associated with OpenAI’s new pricing model allowed her small startup to integrate with powerful large language models, leading to their successful product launch shortly after the New Year. In just a few weeks, the company collected numerous leads and successfully established a waitlist of interested law firms.

Saltman’s journey did not start with an established product but rather from the ground up thanks to programs like Founder Catalyst, which she found through a serendipitous read about its offerings. This program provided Saltman with much-needed resources, mentorship, and a supportive network of other women entrepreneurs, laying the groundwork for her subsequent acceptance into Techstars Seattle, a significant accelerator program for startups.

The Techstars experience proved invaluable, offering mentorship, networking opportunities, and the chance to refine her pitch dramatically. Saltman shared how the culture of collaboration amongst founders in the Techstars community has allowed her to make meaningful connections both within and outside of the program.

Saltman emphasized the importance of networking and timing her fundraising efforts. Currently, they are preparing to raise capital post-Demo Day, with a clear strategy to leverage their recently launched product and initial traction with law firms.

Looking Ahead

As stand.io continues to grow and evolve, Saltman remains committed to assisting legal professionals in overcoming the challenges posed by traditional document management systems. With the combined power of AI and a strong network of support, Julie Saltman is confident that Stand will become an indispensable tool for lawyers everywhere.

Keyword

• AI
• Legal Tech
• Julie Saltman
• Stand.io
• scotus AI
• Founder Catalyst
• Techstars
• Document management
• Fundraising

FAQ

1. What is Stand.io?
Stand.io is an AI-powered search and analysis platform designed specifically for lawyers, allowing them to efficiently search through internal legal documents and get precise snippets of information they need.

2. How does Stand.io improve a lawyer's productivity?
By utilizing AI to deliver contextual summaries and search results based on natural language queries, Stand.io helps lawyers save time that would otherwise be spent sifting through unorganized documents.

3. What was Julie Saltman's background before founding Stand.io?
Julie Saltman was a civil litigator with the Justice Department, handling high-profile cases until she decided to create a tech-based solution for the frustrations she experienced in legal information retrieval.

4. What is scotus AI?
scotus AI is a feature of Stand.io that allows users to query and access every Supreme Court decision ever issued, providing direct answers related to case law.

5. How has the Techstars accelerator impacted Stand.io?
The Techstars accelerator has provided valuable mentorship, networking, and resources that have helped Julie Saltman refine her business strategy, improve her pitching skills, and navigate her fundraising efforts.