JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours

Signal of change / JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours

By Jacob Park / 03 Mar 2017

JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours

At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours. The program, called COIN, for Contract Intelligence, does the mind-numbing job of interpreting commercial-loan agreements that, until the project went online in June, consumed 360,000 hours of work each year by lawyers and loan officers.



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