Thomson Reuters to acquire legal AI firm Casetext (YC S13) for $650M

I’m as excited about LLMs as the next guy, but I am sort of confused about stuff like this.

From the article: “One of Casetext's key products is CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement.”

I get using an LLM to generate code snippets or text, where a human developer or author might be able to pick out the good parts and resolve any syntactical mistakes.

But for something like contract analysis or document summary, in a profession where cases have been won and lost on something as precise as comma placement, are LLMs really useful here? Their inherent inexactitude makes me wonder.

Wow, all these AI acquisitions. Databricks bought MosaicML yesterday for 1.3B https://news.ycombinator.com/item?id=36487964