UniCourt Influencer Q&A with Jay Sarmaz of Truve

As “the kind of data scientist that builds GPT-like technologies,” who has been working in the data science field for the last 13+ years, Jay Sarmaz has been on the frontlines of unlocking the value of data with cutting-edge AI models, technologies, and processes.

We were fortunate enough to sit down with Jay and learn more about how his career in data science and the different roles he’s worked in, such as Applications Engineer, Supply Chain Data Scientist, and Director of Analytics have shaped the way he sees how data and the power of AI can be applied to the legal industry. Jay has an excellent perspective on why law firms should combine internal and external data sources for business development and competitive intelligence and also shares his top predictions on how AI/ML will continue to impact the legal field.

We hope you enjoy learning from Jay’s insights as much as we did!

UniCourt: Tell us your story. What is your background, and what led you to what you are doing now?

Jay Sarmaz: Throughout my career, I have been consistently drawn to the pivotal role that data plays in the success of any business. This very notion and the love of data led me to become a Data Scientist for the last 13+ years. My educational background is in Operations Research, the study of solving complex problems with limited resources, followed by a Master’s and micro-MBA in Business at the Georgia Institute of Technology – Scheller College of Business.

I have always focused my efforts on building cutting-edge models, technologies, and processes, and you can say that I am the kind of data scientist that builds GPT-like technologies.

My previous experience includes many years of assisting Fortune 500 companies in making strategic decisions on a global scale through the use and power of Data Science. However, I eventually turned my attention to the legal field after years of working with lawyers, recognizing the immense potential for law firms to unlock value from their data.

UC: What is Truve? Can you explain what it does and what motivated you to start it?

JS: After years of working with law firms, I have seen how frustrated law firms have grown over time with the number of technologies that they need to use and how hard it became to connect everything together. An average law firm today must use a CMS, a CRM, an accounting system, be active on all social media channels, run ads on Google Ads, monitor traffic on Google Analytics, Call Tracking, Zoom, HR technologies, Office applications, and more; and there is a significant amount of data and value out of every single one of these systems. We built Truve to unleash that value.

Truve is an AI-Powered data platform that allows law firms to structure and leverage their data from all the technologies they use seamlessly. You can almost think of it as a control tower that shows how the entire law firm performs end-to-end taking the complexity out of practice management. We then multiply the value with unique AI models like Case Value Estimator^TM, a machine learning model that learns from the patterns from the cases of the law firm, predicts the settlement time and value of the case, and provides recommendations in terms of how to maximize the value of every case.

UC: Throughout your career, you’ve held a range of positions outside of the legal industry from Applications Engineer to Supply Chain Data Scientist, and Director of Analytics. What do you think the legal industry can learn from the successes of other industries when it comes to using AI and Analytics for the business of law?

JS: Even though there are differences and nuances in different industries, the common denominator across all is data and the power of AI. With the recent advancements in large language models like GPT by OpenAI, I think the value and the power is well understood. Here are some learnings that the legal field can benefit from:

Utilizing Data

Many industries have embraced data-driven decision-making, and the legal industry can do the same. By collecting and analyzing data from various sources, law firms can gain valuable insights into their clients, their own operations, and the legal landscape. Data can help lawyers make more informed decisions, identify trends, and predict outcomes.

Automation

Other industries have effectively implemented automation to streamline processes and reduce costs. Law firms can use AI and automation to perform tasks such as document review, contract analysis, and legal research, allowing lawyers to focus on higher-level tasks that require their expertise.

Predictive Analytics

Predictive analytics is a tool that has been used successfully in various industries to sense outcomes before they happen; enabling proactive vs reactive decision-making. In the legal industry, it can be used to predict the outcome of a case, assess the likelihood of settlement, spot missing information and value, and identify potential risks. By analyzing historical data and using machine learning algorithms, lawyers can make better-informed decisions and provide more accurate advice to their teams and clients.

Collaboration

Collaboration across teams is an essential aspect of many industries. The legal industry can benefit from implementing collaboration tools that allow lawyers to work together more efficiently. Tools such as video conferencing, instant messaging, and document sharing can help lawyers work seamlessly together, regardless of their location.

The value of data and AI is immense, and it will continue to grow and evolve.

UC: Why is it important for law firms to combine their internal data with external data sources when developing legal analytics? What are some of the key benefits law firms can gain in the context of business development and competitive intelligence by combining internal and external data sources?

JS: We are in a world that has market dynamics changing very quickly. Law firms that adapt to the change will be the ones that will survive in the long term. The key ingredient to understanding market dynamics lies in the internal and external data.

At the very core, using both data sources will lead to better decision-making. Legal analytics can help law firms make better decisions about which cases to pursue and which legal strategies to employ, and combining internal and external data sources can provide more nuanced insights to inform those decisions. By automating the analysis of both data sources, law firms can save time and resources, allowing them to focus on higher-value activities.

When it comes to business development, combining internal and external data sources can help law firms identify new business opportunities and target potential clients more effectively, and allow them to gain insights into their competitors’ strategies, which can help them stay ahead of the competition.

From a more strategic point of view, combining internal data with external data sources provides a more comprehensive view of legal trends, which can lead to more accurate predictions and insights.

UC: As someone who has worked extensively as a data scientist using AI/ML, what are your top predictions on how AI/ML will continue to shape the way law firms and legal departments operate?

JS: AI/ML will continue to shape the way law firms and legal departments operate by automating routine and repetitive tasks, reducing costs, improving efficiency, and increasing accuracy.

There has been a lot of activity in Contract Review and Management, Legal Research, and Document Analysis over the past few years; and I think those areas are going to keep growing and improving. However, what I think will shape the legal industry the most is Predictive Analytics, e.g. predicting legal outcomes based on historical data. Predictive Analytics Models, such as Case Value Estimator^TM, will assist lawyers in predicting the success rate of legal cases, which can inform settlement negotiations and trial strategies.

UC: What are some of your favorite sayings? What are some real-world examples of how you’ve seen those sayings come to life?

JS: Start small. Do it consistently. Have a bias towards action. Be bold.

Truve is a real-life example of years of grit and consistently building for the future.

UC: What are your goals for 2023? What projects are you working on? Are there any events in the legal tech and legal innovation space we should know about?

JS: Our mission is to give every legal professional the power to make the best everyday decisions using data and AI and continue to be the innovator in the space. 2023 is a year of growth and expansion for us and we will be announcing a strategic acquisition very soon. Analytics in the mass torts vertical has been a big project we were working on in the background and super excited to help mass tort law firms nationally.

UC: Where can we learn more about you and your work?

JS: I am pretty active on LinkedIn and Instagram. Feel free to reach out to me with any questions, talk about AI and business ideas, or just simply say ‘Hi!’.

You can also see all of our Truve company updates on all of our social media channels.

The Value of Data and AI for Law Firms

While the hype and craze over Chat GPT continues to send shockwaves and ripples throughout the legal industry, it’s important for law firms to keep in mind that there are numerous other innovations in the legal tech ecosystem like Truve already leveraging AI and data to bring about significant value to law firms in the context of business development, litigation strategy, and process automation. 

We loved learning from Jay’s insights, and we’re excited to see where Truve’s mission to give legal professionals the power to make the best everyday decisions using data and AI will take them in the coming months and years!

• Share on