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BCLP revolutionises commercial lease reporting

21 Feb 2024Announcements

Bryan Cave Leighton Paisner (BCLP) has unveiled a groundbreaking generative AI (GenAI) lease reporting tool named BCLP FLARE (Fast Lease Assisted Reporting)

Developed in collaboration with proptech innovator Orbital Witness, this tool represents a significant leap forward in commercial lease reporting efficiency.

The two-month design collaboration between BCLP and Orbital Witness resulted in the creation of a customized GenAI lease reporting solution powered by Orbital Witness' latest product, Orbital Copilot. Orbital Copilot is a legal AI assistant designed specifically for property diligence, making it a perfect fit for BCLP's strategic vision of transforming commercial lease reporting.

BCLP and Orbital Witness initiated their design partnership at the end of 2023, aiming to leverage cutting-edge AI technology to streamline and revolutionize commercial lease reporting. BCLP's dedication to delivering high-quality advice aligns seamlessly with Orbital Witness' mission to integrate AI with real estate expertise, enabling businesses to complete due diligence and property reporting in minutes rather than weeks.

During the collaboration, BCLP lawyers worked closely with legal engineers, data scientists, and software engineers from Orbital Witness to pilot Orbital Copilot and develop a GenAI-generated lease report in BCLP's house style. The results were impressive, with significant reductions in the time spent on manual diligence processes, allowing for more in-depth analysis.

Samant Narula, BCLP UK Real Estate Practice Group Lead, emphasized the impact of BCLP FLARE on efficiency and client service. Narula stated, "BCLP FLARE allows for more efficient document review and data extraction, allowing our lawyers to dedicate more time to in-depth analysis. Our collaboration with Orbital Witness is a tangible example of GenAI working hand in hand with our lawyers."

Edmond Boulle, Co-founder and CSO of Orbital Witness, expressed delight at the positive response from BCLP's real estate team. Boulle highlighted the benefits of domain-specific AI applications, stating, "It’s brilliant to see the benefits to their real estate team come to life through BCLP FLARE, providing the time optimizations to their work which are enabling them to focus on providing world-class service and advice to their clients."

BCLP and Orbital Witness are now working together to implement BCLP FLARE and Orbital Copilot across BCLP’s UK and US offices, with a keen focus on delivering measurable client value. The collaboration stands as a testament to the transformative potential of GenAI in the legal industry, marking a significant step toward more efficient and effective commercial lease reporting processes.

Legal News desk contact: editorial@solicitorsjournal.com

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