Goldman Sachs and Singapore’s state investment fund Temasek have invested GBP 13 million (around USD 17.4m) in artificial intelligence startup Eigen Technologies.

Business Insider reports that this London-based startup uses AI to read legal and financial documents.

“Eigen Technologies is making it easier for lawyers and bankers to analyze complex contracts — everything from derivatives to land deeds,” reads the report.

The startup has offices in London and New York and plans to use the raised funds to expand across Europe and into Asia.


“Three and a half years ago we set out to be a truly unique AI company, one that allows our clients to harness the power of their qualitative data to make better decisions,” said Eigen Technologies cofounder and CEO Dr. Lewis Z. Liu.

According to the report, the use of AI in document analysis has become a hot area of tech in recent years.

“The paperwork-heavy nature of these industries means that AI has the potential to hugely reduce the man hours spent combing through contracts,” notes Business Insider.

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