We are pleased to announce the publication of our paper A generative AI-based legal advice tool for small businesses in distress, in collaboration with an interdisciplinary team based in the UK and Hungary.
This paper describes the development and evaluation of the Insolvency Bot, a legal chatbot designed to provide reliable advice on corporate insolvency in England and Wales for small business owners.
We used Retrieval Augmented Generation (RAG) to enhance large language models with a curated knowledge base of 6,000 legal texts, including statutes, HMRC forms, and case law.
Thomas Wood, the director of Fast Data Science, was responsible for building the system in Python and implementing the machine learning models and vector embeddings that allow the bot to retrieve relevant legal information. Fast Data Science hosts the live version of the tool on our website at https://fastdatascience.com/insolvency
We developed and tested the performance of a retrieval augmented generation (RAG) system for answering legal queries related to corporate insolvency in England and Wales. The Insolvency Bot relies on open-source legal information and HMRC forms to provide sound responses to a user’s query focusing on insolvency matters regulated by English law. We evaluated our bot head-to-head on an unseen test set against the unmodified versions of large language models (LLMs) gpt-3.5-turbo, gpt-4, or gpt-4o with a mark scheme similar to those used in examinations in law schools. The Insolvency Bot outperformed each unmodified LLM (p = 0.05%). An additional user experience survey suggested the need for creating two versions of the bot, one for lay people who expect practical and actionable advice and another for professionals with the relevant legal authorities. Our legal chatbot demonstrates the benefits of combining a generative AI system with a trusted knowledge base and shows future promise to cover cross-jurisdictional and insolvency-related queries and could be further improved in its technical architecture.
More information: https://pure.royalholloway.ac.uk/en/publications/a-generative-ai-based-legal-advice-tool-for-small-businesses-in-d/
Dive into the world of Natural Language Processing! Explore cutting-edge NLP roles that match your skills and passions.
Explore NLP Jobs
A person has recently returned from a camping trip and has a fever. Should a doctor diagnose flu or Lyme disease? Would this be any different if they had not mentioned their camping trip? Here’s how LLMs differ from human experts.
How can you predict customer churn using machine learning and AI? In an earlier blog post, I introduced the concept of customer churn. Here, I’d like to dive into customer churn prediction in more detail and show how we can easily and simply use AI to predict customer churn.
Thomas Wood presents the Clinical Trial Risk Tool before the November meeting of the Clinical AI Interest Group at Alan Turing Institute The Clinical AI Interest group is a community of health professionals from a broad range of backgrounds with an interest in Clinical AI, organised by the Alan Turing Institute.
What we can do for you
