In an exciting strategic move for the firm, Travers Smith LLP has carved out its market-leading AI capability with the launch of Jylo, a ground-breaking, AI software company.
Jylo will operate as an independent business selling its AI platform to the wider legal market and beyond, with initial investment coming from Travers Smith. Shawn Curran, previously Director of Legal Technology at Travers Smith, will head up the new enterprise as CEO of Jylo.
The innovative online platform will transform unstructured data into structured information, enabling users to easily explore, organise and interpret findings, using a combination of analysis and chat (formerly YCNBot) features as well as a groundbreaking "intelligence marketplace" for Prompt Products to be leased, returning value back to experts.
The launch of Jylo marks the next step in the evolution of Travers Smith's pioneering approach to legal technology, which has included:
- Launching Analyse - a user interface which enables chatbot functionality to be more scalable, supporting volume-based work like discovery and diligence.
- Launching and open sourcing, YCNBot, in collaboration with 273 Ventures, allowing over 200 organisations to deploy ChatGPT, and its underlying capability, in a safer way, free of cost.
- Launching and open-sourcing Etatonna, the first legal industry data labelling AI platform, which labels concepts in contracts for the purpose of automated document review.
Edmund Reed, Managing Partner of Travers Smith said:
"As a firm we have benefited enormously from Shawn and his team's expertise and now feels like the right time to spin off our AI capabilities and capitalise on what has already been achieved in-house. This will enable the team to sell to other businesses, whilst continuing to support Travers Smith, as their first customer. I have every confidence that Jylo will continue to move and innovate at pace and I am excited to see what they develop next".
Jylo CEO, Shawn Curran said:
"I am delighted to be taking our AI strategy to the next level and moving into the role of CEO of Jylo. In the last 18 months we have built two excellent products but now is the moment to build on our lead in the market. Jylo will enable us to do this, by integrating all of our groundbreaking work on AI into a single, highly adaptable, cloud-based AI platform. But unlike other tools on the market, Jylo will be more than a data analysis tool, acting as a co-worker that communicates with the user, providing advice and approval each step of the way. It will also introduce a unique marketplace where users can create and share custom Intelligence Products either for private use or for sale, opening up a new avenue for knowledge sharing and monetisation."
Travers Smith have won a number of leading AI awards in recent years, including:
- Won the "Innovation in Digital Solutions" award at the Financial Times Innovative Lawyers Europe Awards 2022, recognising the firm's open source project, YCNBot (Your Company Name e.g. TSBot).
- Shawn Curran listed as one of the 10 legal "Intrapreneurs", heralded for driving changes in Legal Technology from within their firms at the Financial Times Innovative Lawyers Europe Awards 2022.
- Won "Best AI Product, Legal" at the CogX Awards 2022 for its launch of Etatonna, an innovative contract labelling tool.
- Ranked 12th "Most Innovative Law Firm" at the Financial Times Innovative Lawyers Europe Awards 2023.
