In risk management collaboration with AI start-up, firm warns of threat of “one major incident” having global consequences for clients.
Clyde & Co has entered into a formal collaboration with start-up company, Assess Threat, which developed the unique Terrorism Risk Assessor (Tera) product.
Tera uses a combination of real-time and historical data to assess the exposure and vulnerability of any asset or geographical location to terrorism, and then automatically produces a detailed report of its findings. “The collaboration represents a significant venture into lawtech for the firm. We are among the few practices globally which advises clients on terrorism issues. This unique client solution will build business resilience in an era of global volatility,” said Michael Tooma, Australia managing partner, Clyde & Co. “One major incident on one side of the world, can have consequences for clients on the other side of the world. This product is about using AI solutions to build resilience to global shocks and minimise disruption,” Mr Tooma said.
The chief executive of Assess Threat, Aaron Tran, said the company was pleased to collaborate with Clyde & Co as its exclusive legal partner. “This is an important step towards enhancing awareness and building resilience more broadly across society as a whole, which is critical when dealing with complex threats such as terrorism” said Mr Tran. “We’ve always been impressed with Clyde & Co’s thought leadership on terrorism issues. Our collaboration with Clyde & Co will allow us to reach a global audience and further drive the development of innovative solutions for public safety" said the CEO of Assess Threat,” Mr Tran added. “The legal sector is changing rapidly and firms must invest in technology. As part of our commitment to innovation, we are seeking the latest AI technologies to ensure our clients are well-prepared in a volatile world,” Mr Tooma concluded.
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