Everything Arpan Nanavati said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Nanavati: Cimphony delivers $1,600/hour partner-level legal quality for $10 an hour
“Partners at law firms will charge anywhere from eight 50 to 1600 dollars an hour. And with us, they still get the similar type of quality at 10 dollars an hour in type of cost, which is incredible savings for a similar type of quality, what they could expect f…”
Nanavati: AI legal counsel delivers results equal to or better than human lawyers
“With AI, they have the ability to use a high quality AI legal counsel. Which gives them similar to sometimes even better, faster results than they would get from a traditional lawyer.”
Nanavati: Legal AI requires the provider, not the customer, in the loop
“Generally when AI products sell human in the loop, what they're selling is the customer becomes the human in the loop, which is the customer still self-servicing the AI, which may make sense in a lot of, in legal industry, customer generally doesn't know what …”
Nanavati: Data is not a moat in legal AI, execution is
“Within the legal domain data by itself is open source and data in itself doesn't become the model. It's the application of that data set. It's the application of how you tune the models and the fact that you're building a tech layer between the customer and te…”
Nanavati: Cimphony considers itself a service company, not a software company
“We're not a software company. We're a service company is what I say.”
Nanavati: Professional services will become highly deflationary and outcome-based
“I think services in general will become highly deflationary, net positive for the end user. Services will become really fast. Business models will be more outcome based business models.”
Nanavati: Law firms' billable-hour model is ripe for disruption
“The business model of legal services and law firms is based on an hourly model. And it's all about how can you increase the billable hours? Which means you need a very, very fat wallet. You even pay for things like reading an email. Hey, can I get on a call ty…”
Nanavati: Cimphony moved from SaaS to outcome-based transaction pricing
“We've moved away from the SaaS model and it's a pure transaction based model. Like we pay for the outcome. You pay for alignment of the incentive with what the customer needs, rather than just paying for something when the customer does.”
Nanavati: Cimphony generates 75% to 80% margins
“And the fact that the cost of our infrastructure is low compared to the human power cost of the traditional model it allows us to generate very strong margins of 75 to 80% margins.”
Nanavati: Professional services is a $20T market dominated by large corporations
“Services as an industry today is about a 20 trillion dollar market but most of that is consumed by larger corporations or HMX with small to medium sized businesses not really having an ability to reach higher quality services, in our case legal services.”
Nanavati: Cimphony digested a 100-billion-token legal dataset dating back to 1975
“We've digested about a hundred billion token legal data set and case law from the last 50 years dating back to 1975 for example, across Supreme Court all the way down to the county courts.”
Nanavati: Cimphony has built 40 to 50 specialized AI legal agents
“What we've done is we've built about 40 to 50 agents that are highly specialized for their particular use case within their particular work call.”