Eve Legal founder Jay Madheswaran discusses the technological breakthroughs in natural language processing (NLP) around 2018 that led him to leave venture capital and build an AI startup.
Assertion Supported
Madheswaran: EvenUp relied on offshore labor before layering in AI
“Versus even for the time was kind of done by offshore human labor on two very specific tasks. And they're now layering in AI.”
Insight
Madheswaran: Plaintiff Lawyers Share Tool Recommendations Outside Their Local Markets
“They are competitors, but they're competitors locally, right? So if you look at it, you know, in, I don't know, Los Angeles, in one neighborhood, there might be two or three personal injury labor and employment attorneys. Representing that area. They'd be comp…”
Insight
Madheswaran: Fundraising requires triggering VC greed then reducing perceived risk
“You know, they want some level of greed to be clicked on. It's like, oh, If they do this, I can see why they would make a lot of money and make me a lot of money. And you have to then, once you do that, reduce risk, right? Basically show a through line between…”
Insight
Madheswaran: Generative AI cannot reach 99.9% document extraction accuracy alone
“That's where it gets harder. You know, when you're chasing from 99% accuracy to 99.9. Gen AI still doesn't fully help with that. So you still have to kind of do more typical machine learning”
Disclosure
Madheswaran: Eve AI directly talks to, qualifies, and signs legal clients
“And now Eve actually literally talks to the client, which is kind of cool, you know, helps get them signed and qualifies them without violating any laws. Like you can't accidentally do unauthorized practice of law.”
Insight
Madheswaran: LLMs made automating hundreds of bespoke workflows economically feasible
“And you have to take that and convert that into those hundred bespoke workflows. Which was economically unfeasible before LLMs, but with LLMs, we saw that we were actually able to go deep into the workflows, and as a result, provide more value for the firms, a…”