Contracts are one category of enterprise documents that are very complex to manage. They carry legal terms, obligations, holes, and clauses that could increase the risk exposure for firms. AI can streamline the end to end contract management process in terms of 1. Auto-extraction of key obligations like important Contract Dates, Party names, Contract Types, Contract Value , Force Majeure, Termination clauses and much more. 2. Identifying Risky clauses and recommending alternativesÂ
Understand the Use-case under 5 minutes
Video (2.5 minutes)
DocuSign has built an AI-based solution that gives you the power in the contract negotiating process with fast performing and accurate analysis to manage the risks of the contracts
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Get to know more Business and Technical details about the use-case (15-30 minutes)
More detailed introduction covering business and technical aspects
Video (56 minutes)
Automate and create greater efficiencies for your in-house legal team, reduce costs, and minimize risks. Evisort uses AI to classify legal and business documents, apply legal analysis, and perform due diligence on contracts in real-time
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Article (9 minutes)
A detailed guide showing how effective AI is in contract life-cycle management and how intelligent techniques can be used to extract clauses, meta-analyses, obligations, and risk assessments
Read
Article (8 minutes)
Time-consuming contract negotiation techniques could be enhanced by applying AI-based automated contract review including contract type identification, recognition of clauses and obligations, risk scoring
ReadCase studies, Organizational Aspects, Return on Investment examples
Report
Quantitative impact of implementing advanced technology, cumulatively accrued through an AI-assisted review of Contracts, Preparing for AI-Assisted Review Transformation, and a Case Study
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Case Study
bp has thousands of suppliers around the world, and an increasing number of contracts to process, but a fixed amount of procurement and legal resources. Using ContractAI, bp achieved 87% reduction in processing time
ReadMore details on the technical aspects of the use-case
Article (9 minutes)
Exploring solution workflow provided by LinkSquares and SFL to build a fully integrated end-to-end framework to run from cloud environments to extract contracts key terms.
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Google service
AI Service from Google aiming to accelerate contract life cycle management by digitizing and extracting highly accurate data from contracts
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Article (6 minutes)
AI-based features in Sophia platform including Key Obligations extraction, Discovery search, Inbuilt risk management, Central Contract Repository, Automated contract generator. See also the AI behind sophia
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Technical resources that will help you implement the use-case (notebooks, tutorials..)
Github Repo
NLP library for working with real, unstructured legal text, including contracts, plans, policies, procedures, and other material.
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This repository contains code, and pre-trained models for the Contract Understanding Atticus Dataset (CUAD), a dataset for legal contract review curated by the Atticus Project
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Article (8 minutes)
Step by step explanation of the main components of Intelligent Contract Analysis for Regulation pipeline from preprocessing steps to the Deep Learning classifier of legal clauses.
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Paper
Exploring how deep learning methods can be used for contract element extraction. Authors show that a BILSTM operating on word, POS tag, and tokenshape embeddings outperforms the linear sliding-window classifiers
VisitArticle (15 minutes)
A practical use case of using state-of-the-art Natural Language Processing (NLP) techniques to automate the extraction of basic information from legal contracts and converting this into structured data. Code here
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Data Sets you can use to build Demos, POCs, or test Algorithms
A Corpus of 13,000+ labels in 510 commercial legal contracts that have been manually labeled under the supervision of experienced lawyers to identify 41 types of legal clauses that are considered important in contact review in connection with a corporate transaction, including mergers & acquisitions, etc.
Off-the-Shelf Products using AI for Contract Inspection
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