Asset manager Blackstone, opens new tab has invested $50 million in Norm Ai, a legal and compliance technology startup that also said on Thursday that it is launching an independent law firm that will offer “AI-native legal services.”
Lawyers at the new New York-based firm, Norm Law LLP, will use Norm Ai’s artificial intelligence technology to do legal work for Blackstone and other financial services clients, said Norm Ai founder and CEO John Nay.
The technology startup says it has created AI agents that help corporate in-house legal and compliance teams automate regulatory reviews.
