Showing posts from February, 2019

Artificial Intelligence – A Natural Fit for Contracts

When leading legal tech firm, Ari Kaplan Advisors, interviewed 30 General Counsels from Fortune 1000 companies about current usage and future trends for contract AI, they discovered that 37 percent of the companies were already using AI for contract review and analysis and 58 percent confirmed that they intended to use it this year. 50 percent of the respondents also said that they were prepared to increase their contract AI spend in 2019.[1]

Source: Seal Software
Those that had used contract AI were optimistic about the momentum that it was gaining within their organization. This was evident from 64 percent of the respondents rating their previous use of AI poorly (one or two on a scale of one to five) while having high expectations for the future of contract AI within their organization (mostly four or five on a scale of one to five).

Source: Seal Software
Contract AI – What Does It Improve? The survey respondents saw some clear and common benefits to using AI for managing their contract…