Recommind Patents Predictive Coding
Recommind, the leader in predictive information management software, today announced that the US Patent Office has issued the company Patent No. 7,933,859, covering systems and methods for iterative computer-assisted document analysis and review. This patent gives Recommind, its customers and its partners exclusive rights to use, host and sell systems and processes for iterative, computer-expedited document review.
This announcement also marks the first installation of an extensive set of patents pending that provide even more comprehensive coverage around computer-assisted document review and associated processes. This intellectual property will solidify Recommind’s leadership in advanced eDiscovery, compliance, records management and information governance processes and capabilities for years to come. Between the original patent and the latest filings, Recommind now holds a commanding position in the fast-growing eDiscovery market, recently projected to reach $1.5B by 20131 .
Developed in collaboration with some of the world’s largest enterprises and law firms, Recommind’s Predictive Coding technology and workflow have transformed the legal industry by accelerating the most expensive phase of eDiscovery, document review. Traditional eDiscovery software relies on linear review, a tedious, expensive and error-prone process in which teams of contract attorneys review hundreds of thousands of documents one at a time. With a small amount of information from a knowledgeable attorney, Predictive Coding uses machine learning to categorize and prioritize any document set faster, more accurately and more defensibly than contract attorneys, no matter how much data is involved. By giving human reviewers computerized assistance, Predictive Coding saves 60 to 90 percent on review costs – savings that can easily reach millions of dollars per case or across several small cases.
“Until recently, no one had made significant progress in reining in the primary driver of runaway eDiscovery costs: the time it takes for a human being to review each electronic record in a review set to decide if it is relevant and/or privileged,” said Robert Trenchard, Partner, Wilmer Hale. “By using advanced technology integrated with a sound workflow, Predictive Coding is delivering on the promise to both reduce costs and improve quality. With Predictive Coding, there is now a process that satisfies the requirements of a ‘reasonable’ review while producing a more accurate review at a significantly lower cost to clients. This is a game-changer in eDiscovery.”
Drawn by the proven financial benefits of Predictive Coding and its daily use in major cases, Recommind’s Axcelerate eDiscovery customers now include companies as diverse as Cisco Systems and TransCanada Pipeline, law firms as diverse as Fulbright & Jaworski and Eimer Stahl and government regulatory agencies around the globe.
“There is no longer any doubt that Predictive Coding is the future of eDiscovery,” said Recommind CEO Robert Tennant. “Linear review is already impractical in many cases--and soon it will be impossible--but even the smallest cases can be handled more inexpensively and accurately with computer assistance. Only Recommind’s patented, iterative, computer-assisted approach can ‘bend the cost curve’ of document review. Its superiority will only become more evident as corporate data volumes continue to rise. Predictive Coding puts our customers and partners right where the industry is headed, and there’s much more to come. This patent is just the first of many that will cement Recommind’s leadership of the advanced eDiscovery market.”
Axcelerate eDiscovery with Predictive Coding derives its power from Recommind’s unique CORE™ search and categorization engine, which underlies all Recommind applications and consistently delivers accuracy rates of 95 to 99 percent — much higher than other eDiscovery solutions. To showcase the power of Axcelerate eDiscovery with Predictive Coding, Recommind will be offering a summer roadshow seminar series entitled “Gaining Competitive Advantage With Predictive Coding,” as well as providing numerous case studies and white papers. For more information, including seminar dates and cities, please email: email@example.com or visit www.predictivecoding.com.
For more information on Axcelerate eDiscovery, please visit: http://www.recommind.com/products/axcelerate_ediscovery/overview
1Gartner 2011 Magic Quadrant for E-Discovery Software