AWARD YEAR
2023
CATEGORY
Work
GOALS
Decent Work & Economic Growth
KEYWORDS
dispute management, machine learning , artificial intelligence, dispute resolution
COUNTRY
United Kingdom
DESIGNED BY
Dr Mimi Zou, Tatiana Botskina
WEBSITE
https://www.deriskly.com/
Deriskly
AI-powered analytics for dispute management
How does it work?
When it comes to disputes, we believe that prevention is better than litigation. Our advanced machine learning technology helps you detect risks of emerging legal disputes with customers, employees and other stakeholders across different communication channels, from emails to social media platforms.
Stop wasting time manually browsing your mailbox to prioritise response to high risk cases. With Deriskly you can manage legal risks across entire organisation from a single dashboard. Deriskly helps you to see the bigger picture of legal risk profile of your company and react immediately to high risk cases.
Deriskly deploys cutting-edge machine learning models built by computer scientists from the University of Oxford to help companies detect and assess risks of legal disputes hidden in vast amounts of corporate data, particularly emails and text-based communications, as well as data from social media and web sources. Our predictive data analytics solution helps legal and other teams wi
Why is it needed?
A national survey recently revealed that 4 in 10 employees in the UK reported that they have experienced interpersonal conflict at work. Employee disputes can create significant time and cost burdens for enterprises, stemming from decreased productivity, low staff morale, emotional stress and health problems for employees, work disruptions and personnel turnover. Around 874, 000 employees are estimated to take sick leave as a result of workplace conflict each year, at an estimated cost of £2.2 billion to employers.
Overall, it is estimated that the cost of workplace conflict to UK organisations amounts to approximately £28.5 billion or £1,000 per employee. The global pandemic seems to have had an impact.
AI tools can help to provide early signalling of conflict risks. Such tools can assess the risks from internal communications and present findings in near-real-time on a customisable dashboard to notify the relevant personnel.
How does it improve life?
Deriskly helps busy legal teams to detect matters that require immediate attention. Integration with popular email services and web resources allows lawyers to monitor legal risks in nearly real time format.
Powered by the state-of-the-art machine learning engine, Deriskly handles large volumes of data and detects anomalies using unsupervised and supervised machine learning.
Make informed decisions using smart analytics that provides insights into different legal risks across the entire company. With Deriskly you are able to predict legal workload and allocate human
resources efficiently.
Using Deriskly’s risk management features, you are able to collaborate with other departments that ask for legal support. Track the progress and time to reply to avoid risk escalation.