Key milestones in project to develop AI conveyancing solutions
Collaborative Conveyancing Limited, the conveyancing technology pioneer, has won a substantial Innovate UK grant in partnership with the STFC Hartree Centre, and completed a fundraising round to enable it to further develop its work to help conveyancers reduce the pressures in the system through the use of AI.
The investment allows the technology company to further develop its system to use AI to build semi-automated solutions to the plethora of enquiries that cause so much delay and stress, many of which are purely administrative in nature.
Karen Babington, a Founder of the business and investor, said “Last year we secured a strong collaborative relationship with Simplify which gave us the confidence to really focus on this problem. The investment and grant endorses the work we are doing.”
David Grossman, CEO of Simplify, commented, “Simplify are delighted to have contributed to the progress of this exciting project and to have supported the successful grant application. We look forward to working with the Collaborative Conveyancing team as they develop their innovative solution to improving the process of dealing with enquiries.”
Founded in 2022, Collaborative Conveyancing is an innovative, UK-based, technology company with the sole focus of solving the long-standing conveyancing enquiries problem.
By applying workflow automation with Artificial Intelligence and Natural Language Processing to conveyancing, the team are building an automated solution for property lawyers that reads inbound enquiries, classifies them and structures responses. This in turn reduces complexity, improves efficiency and visibility and crucially expedites the home buying process, shortening the entire conveyancing process.
Chris Harris, one of the Founders and an entrepreneur in the conveyancing market, says “There has been significant commentary and discussion about the increase in conveyancing enquiries and the bottleneck in the home buying process causing substantial stress and pain. The press is full of developments in AI. So we are bringing all the best of AI and language processing to help alleviate the problem. After a year’s hard work, we are so proud that our early work is recognised by Innovate UK as having the potential to make a substantial difference. Our solution focusses on supporting conveyancers when dealing with the over load they face whilst remaining at the heart of the process, so they can do the job they were trained for.”
Dr Rob Firth, Senior AI Research Scientist at the Hartree Centre added “I’m excited to be working again with the team in scaling up, and pushing the performance of the AI components through this work. The field of Natural Language Processing is moving very fast, and we have only begun to see the beginning of what these technologies can do. This project builds on proof of concept work completed as part of the Cheshire and Warrington 4.0 (CW4.0) project (European Regional Development Fund initiative), supporting SME’s to use digital technology.”
Chris Harris, went on to say, “We are building something that has the opportunity to really support conveyancers of all shapes and sizes in their day-to-day work. Anyone that is interested to learn more, please get in touch.”
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