Neota Logic featured in AI Business

Neota Logic featured in AI Business
Neota Logic featured in AI Business

Neota’s Rick Seabrook Urges Enterprises to Adopt New Technologies: ‘Start Doing – Don’t Talk, Experiment!’

To get an insight into how artificial intelligence can assist the legal industry, AI Business caught up with Neota Logic’s European Managing Director, Rick Seabook. Neota Logic is a global provider of artificial intelligence software for the automation of legal and compliance. Combining intelligent reasoning, workflow and document assembly, the company’s easy-to-develop, online advisors help professional firms and their clients improve efficiency, manage risk and achieve regulatory compliance.

 

Rick Seabrook is the European Managing Director for Neota Logic. Previously, he ran the European business for Epiq Systems, a forensics-and electronic discovery company and was a Partner at Accenture where for over 18 years, he led consulting, technology and outsourcing client engagements across a number of industries. He is a non-executive director of Workpond Ltd, a specialist flexible working talent and recruitment consultancy.

To gain a broader understanding of where and how Neota Logic can apply their software, we asked what their key proposition is in enabling an AI-powered business?

“Neota is a platform for companies to build online expert advisors so our software is used in many different ways and contexts”, Seabrook begins.

“Our overarching proposition is to allow users to benefit from receiving the guidance and advice through our software of the very best professional experts in areas such as HR, Legal, Accounting and Compliance”.

Could you share a couple of key enterprise use cases for your solutions with our readers? 

“We work routinely in compliance”, Seabrook begins, saying that an example of this would be where Neota has been deployed by a major investment bank in order to perform regulatory compliance and commercial checks on financial derivatives trades.

“In cases like these those checks involve not only the correct navigation of highly complex regulatory rules (literally tens of thousands of rules and billions of potential fact patterns) but also the judgement of legal and commercial experts inside the bank applied to each individual transaction”, Seabrook explains.

“All modeled into software algorithms, running in sub-millisecond time. It’s game-changing for the bank”.

“We also have over 100 North American corporations including Proctor & Gamble, Coca-Cola, Salesforce and my favourite, IBM, receiving expert HR advice through Neota software via our employment law joint venture ComplianceHR“, Seabrook reveals, showing the wide range of where Neota’s solutions can be applied.

Looking ahead, what is your enterprise strategy for Neota Logic in the short- and long-term? 

“We are focused on three growth strategies for our business” Seabrook says. “The first is offering our platform to professional services firms who wish to innovate by offering online products and services for their clients”.

Seabrook continues, saying: “Secondly, incubating new start-up ventures who are experimenting with our technology”. The third growth strategy involves launching their own ventures on their platform similar to ComplianceHR”.

“All of the above will be focused in professional services, so Legal, Accounting, Tax and regulated industries including Financial Services, Education, Healthcare and Insurance”.

Beyond this, Seabrook also reveals that Neota has a major Pro-Bono programme in partnership with Georgetown Law School in order to continue to teach young professionals their technology, working with charities to solve real-life issues in the Access to Justice space.

To read the full article, please click here.

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Rick Seabrook
Managing Director, EMEA
Contact: seabrook@neotalogic.com

Rick is an expert in business strategy, organic and acquired growth, and transformational change across a range of industries and professional services. Prior to joining Neota Logic in 2015, he served as European Managing Director of a Nasdaq-listed legal technology business where his role focused on strategic growth and commercial delivery. Rick also held the title of Managing Director (formerly Partner) at Accenture for over 18 years, where he led the development and management of services businesses across a range of industries, including Oil & Gas, Utilities, Telecommunications, and Mining.

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