Deutsche Telekom, one of Europe’s leading telecoms companies, has unveiled a new AI-powered software-as-a-service solution called “Law Monitor” aimed at supporting corporate legal departments in quickly identifying changes to national and international laws.
In an era of increasingly complex regulatory environments, companies across all industries are struggling to keep up with the constant stream of legal updates. The Law Monitor seeks to address this challenge by automating the time-consuming process of monitoring legislative changes.
Dr Ferri Abolhassan, CEO of T-Systems and member of the Board of Management of Deutsche Telekom AG, said: “AI has come to stay. At T-Systems, we see ourselves as consultants for our customers and need to make AI tangible. The Law Monitor is a good example of this.”
The AI-based model scans legal texts from the German Federal Law Gazette, using advanced algorithms to recognise and structure information from text, images, and tables. This processed data is then presented to legal department employees via an intuitive dashboard, allowing them to quickly identify relevant changes.
Abolhassan highlighted a recent example from the automotive industry to illustrate the tool’s potential impact: “Since 7 July, for example, binding regulations have applied throughout the EU for the integration of specific assistance systems, such as emergency braking and lane departure warning systems in new cars. Law Monitor helps car manufacturers to make these regulations transparent in real time in order to adapt production at an early stage.”
The need for such a tool is clear. Companies are facing an unprecedented density of regulations both in Germany and worldwide. For instance, the European packaging industry recently had to adapt to new requirements mandating that disposable plastic bottles be produced with attached lids to reduce plastic waste.
While the Law Monitor currently focuses on legislative changes in Germany, Deutsche Telekom plans to expand its coverage to 19 additional countries – including specific states in the US – in the coming months. This expansion will allow the tool to display legal changes from different countries in a single interface, setting it apart from existing competing products.
The solution is designed to be applicable across various industries and even the public sector. Deutsche Telekom reports that one customer from the automotive industry is already using the Law Monitor, with others from both the automotive and packaging industries expressing strong interest.
By automating the process of monitoring legal changes, the Law Monitor not only saves time but also allows legal professionals to focus on more value-added tasks such as analysing the content and assessing the context of these changes.
Deutsche Telekom’s initiative demonstrates how AI can be leveraged to address real-world challenges in the legal and compliance space, potentially revolutionising how companies stay informed about and adapt to legislative changes.
(Photo by Conny Schneider)
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By AI News, July 15, 2024.
