Prime View The 10 Most Emerging Startups of 2018 | Page 29

companies in 2018 and Top 10 Legal Tech firms in APAC by CIO review. Additionally, it got recognized as
Top 5 startups 2018 in Legal Tech by Analytics India.
Two Major Challenges: Data and Behavior
A hard-core believer of Kelly Cutrone’s quote ―When you're following your inner voice, doors tend to
eventually open for you, even if they mostly slam at first, Pensieve technologies too encountered various
challenges.
There are two major challenges. First is Data Challenge. One of the major challenges as a start up in the space
of ML and NLP is the access to data to experiment and the cost of acquiring data and improve the algorithms.
This has been a hurdle that Pensieve had to traverse to get to where it is today.
Another crucial challenges is Behavior Challenge. Legal industry hasn’t been very tech savvy for a long time.
But, with the increasing amount of data crunching they have become open to adopting new technologies to
increase their productivity
Pensieve acts as the repository of organized human
intelligence to give insights for precise data driven
decisions. Decisions based on data of diverse sources
and nature, and knowledge aqcuired from behavioral
and domain insights.
The Combined factors that Consolidated the Company’s Strength
Team: Pensieve Techonolgy has a very well rounded team with a serial entrepreneur, a PHD from US and a
business graduate from US as co-founders and resources from top colleges of India as their employees.
Right Industry- The Legal Industry has not been disrupted. In the USA alone it is worth $280billion. Top law
firm by revenue Kirkland & Ellis ($3.1bn), Latham & Watkins ($3.0bn), Baker McKenzie ($2.6bn). Largest
inhouse team by cost: JP Morgan Chase ($222m), Apple($455m), Citi Group ($174m)
Machine Learning & Natural Language Processing: These technologies are becoming the main stream
technology and customers are more adapting the product driven by AI faster than ever.
Participating in Novel Research Work keeps Employees Motivation Up
As a part of weekly work, Pensieve Technolgies take up some research related work there by allowing people
to stay close to new research and thereby drive innovation.
Clarity on business problem to everyone in the team and conducting brainstorming sessions on how to solve
the problem statements. This offers everyone a feel of, sense of ownership.
Insight to have Global Expansion
In the upcoming years, Pensieve plans for global expansion. The company is expanding globally starting with
Malaysia and Hongkong and plans further expansion into UK and Ireland. Other key step would be to start
Data Crunching from Text based documents taken over by AI.
www.pensieve.co.in
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