Insig AI shares rise as secures contract with international law firm
Insig AI PLC on Wednesday reported a new vertical market ‘breakthrough’, as it noted the sale of its technology to a legal practice for the first time.
Shares in the London-based data science and machine learning firm rose 6.3% on Wednesday afternoon in London.
Insig AI said the new contract is with an unnamed international law firm, with the client having had to spend ‘significant’ amounts of time manually reviewing client corporate reports.
The company explained that it proposed an automated solution, collecting, processing and comparing documents utilising AI customised workflows.
The deal, said InsigAI, signals further deployment of its Generative Intelligence Engine. It described this as ‘a pioneering product that helps organisations apply their own expert thinking at scale.’
The company noted this as the first time it has sold its technology to a legal practice, representing a new vertical market ‘breakthrough’.
‘We are delighted to have secured a further new client, in particular from a leading international law firm. This win demonstrates our ability to sell our Generative Intelligence Engine into new verticals, allowing scope for further revenue growth from this channel. We see the enormous commercial benefit of our technology. It is pleasing to see a leading law firm embracing it,’ said Chief Executive Richard Bernstein.
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