Harvey's CEO Winston Weinberg talks about the company's AI-powered legal platform and how it's disrupting the legal industry on CNBC's Squawk Box Asia.

Downtown Core

Harvey, an artificial intelligence platform for legal services, is seeing widespread adoption across the legal profession, with users ranging from partners to junior associates. The company has shifted from its original name, Council AI Corporation, to Harvey to encourage lawyers to interact with the platform as they would with a colleague. About 20% of Harvey’s daily active users are partners, using the platform for tasks such as client preparation and regulatory research, while associates use it for diligence and discovery.

To ensure the AI is effective in legal contexts, Harvey employs domain experts, including junior associates and traditional attorneys, to help train the system. The company operates in 57 countries and focuses on partnering with large firms and corporations to tailor its services to local legal practices. Harvey’s client base includes both prestigious law firms and fast-growing corporate legal teams, such as those at major banks and private equity firms.

How Harvey’s AI is revolutionizing legal services

Funny thing, I mean, the origin story behind the name of your firm, Harvey, this is like Harvey as in suits, right? It definitely was influenced by that. I think part of it was we actually started as Council AI Corporation, and it was very snoozy, right? A little bit snoozier. And it was very difficult to get lawyers to treat it kind of like a colleague. We found that when we transitioned to a name like Harvey, it was easier for them to prompt, right? It wasn't prompting, it was just communication, and to think of these devices as that. As a near human, right? So it makes much more personal and makes perfect sense. So my question to you is, I mean, the kinds of things that Harvey does, right, who's it for? Is it for, let's say, partners in the Silk Suits like Harvey? Is it more for folks like, let's say, Donna, you know, who acts as, I guess, kind of like a paralegal and does a lot of the grunt work? I think Donna does a lot more than the grunt work, for sure, in Silk Suits. I think it's for everyone in the legal profession, and actually about 20% of our users are partners, daily active users. And so they're using it for different work. They're using it to prepare to meet with a client, you know, a new regulation comes out, and they're meeting with a hedge fund, and they want to be prepared for that meeting, and they're in the car on the way to prepare for that, whereas associates are using it more for diligence or discovery or things like that. Gotcha. All right. Sherry, come in on this. Yeah. So, Winston, great to have you on. So you used to be a securities and antitrust litigator. So for an incumbent litigator who might be watching this interview, just walk us through how they could benefit from using Harvey, how they would put it to use in their daily lives. Yeah. So I would think about this as you could break down all of the emails as tasks that you're sending to a junior associate, and you can start using Harvey that way. Or if you're a junior associate, think about it in the reverse of you're getting a question from a partner or from a client, and you can start actually trying to break that question down into, is it a research question? Am I trying to review a bunch of documents or something else? And then you can go into the particular part of Harvey that will help with that practice area and then complete the task. And again, you're still going to want to review this in the same way that if you're a partner, you're always going to review the work of a junior associate. Or if you're a junior associate, you're always going to double, triple, probably quadruple check your work. So in this legal framework, there's a lot of concepts and expressions, words that's very jargony to lawyers. And we don't have that on public data. So that's why you have lawyers at your company, at Harvey, helping to better train your software. Is that right? Yeah, that is 100% right. We actually work with domain experts in-house. So we hire a lot of junior associates to actually help train the systems and develop the product. And it was quite interesting because in the beginning, you could kind of tell. You could go into our office and half of the company, or not half of the company, but maybe a third of the company was in suits. And then the rest were in hoodies. And over time, the attorneys realized you don't need to wear suits anymore. And it's about 20% of our company are domain experts. And some of that are actually just more traditional attorneys working in-house as a corporate legal. So let's ask you, you're obviously on the road route here in Asia, right? Is that looking for more business or looking for more funding? A little bit of both. A little bit of both. Right now, we are not currently fundraising. But a lot of it is we operate in 57 countries now. And it's really important that you partner with the large firms and the large companies in each country to make sure that Harvey is tailored for that region, right? And every region is incredibly complex. And so you have to partner with them to find the data sources they care about, the processes they care about, and generally just how they practice law. Curious, you know, 57 countries, including, I assume, some in Asia, right? Which we can talk a little bit more about. But your target customers, right, of the 500 you have on board right now, are you purposely targeting, let's say, the equivalent of white shoe firms in whatever geography in this part of the world? Or are you looking at sort of smaller shops and firms? So we're starting to do both. We definitely started with the white shoe firms. We also have a very fast-growing corporate business. So our business is growing very quickly just on the corporate side, just if you're an in-house legal team at an AT&T or a large bank or a hedge fund. Or we work a lot with private equity as well.

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