TBA Law Blog


Posted by: Stacey Shrader Joslin on Jan 12, 2024

Legal artificial intelligence (AI) startup Harvey has successfully garnered funding that brings the company’s valuation to $700 million, BNN reports. The surprise infusion of cash for the fledgling startup “signals a positive shift in the sector” according to the international news source. Harvey, named for a character on the popular legal-themed television show “Suits,” says it plans to use the latest investment to expand its custom model building, scale its team and build out its suite of product features. Other AI-based legal tech companies like Robin AI are also gaining ground, BNN says. In related news, AI chatbots from OpenAI, Google and Meta are particularly likely to provide false or misleading information when answering legal questions, according to new research. A study by Stanford University found that “large language models hallucinate at least 75% of the time when answering questions about a court’s core ruling.” The study looked at 200,000 legal questions, Bloomberg Law reports.