Goodwin Procter AI tool has been introduced to streamline venture capital financing, marking the first release from the firm’s broader internal initiative to build artificial intelligence applications for its lawyers.
According to the firm, the debut offering is the initial installment in a planned series of AI programs being developed in house at the Am Law 100 practice.
Firm chair Anthony McCusker said the company intends to invest $25 million annually to create products “designed by lawyers and powered by technology with a real client focus.”
Goodwin Procter AI tool to serve as a platform
The venture financing product runs on a custom version of Anthropic’s Claude platform. McCusker said it will underpin future tools across additional practices, including mergers and acquisitions, private equity, litigation, and fund formation.
The firm said the project was overseen by Eric Tan, chief digital and technology officer, and built by a team of six associates.
Goodwin Procter aims to save roughly one million hours of work annually with the initiative. That target equates to about 1.5 hours per day for the firm’s nearly 3,000 attorneys and business professionals, according to the firm.
According to the firm, the debut offering is the initial installment in a planned series of AI programs being developed in house at the Am Law 100 practice.