"A small Brighton law firm is taking on one of Britain's biggest retail banks in a $20 million (£14.75m) High Court battle, using artificial intelligence to cut costs and challenge legal heavyweights."
"Helix Law says it has been able to drive the case forward thanks to technology that slashed disclosure costs from an initial estimate of £350,000 to £100,000 - a fraction of the £557,000 budgeted by Metro Bank's legal team. "The cost savings are game-changing," Cook said. "They have enabled a small software company to continue its fight against a much larger giant. As an independent firm ourselves, we understand how challenging access to this type of justice can be.""
""By breaching their agreement with our client, Metro Bank has not only caused financial damage, but severely damaged its own reputation and trust among its customers," he said. "More widely, we see this as a David and Goliath moment for our industry. Taking on a major retail bank on behalf of a much smaller client shows what is possible when you combine legal expertise with the latest technology.""
Helix Law represents US software provider Arkeyo LLC in a $20 million (£14.75m) High Court claim against Metro Bank for alleged copyright and licensing breaches tied to in-branch coin-counting machines known as "Magic Money Machines." Arkeyo alleges Metro replicated the technology without permission after a partnership that ran from 2010 to 2016. Metro Bank has instructed Eversheds Sutherland to defend the case. A hearing is set for 17 September and mediation is being pursued later in the year. Helix says legal AI and other technologies reduced disclosure costs substantially and typically save clients up to 60% on comparable cases.
Read at Business Matters
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