How AI-powered contract analysis is delivering efficiencies for modern law departments
Contracts are the lifeblood of any organization; they are key to getting business done. Businesses large and small have countless active contracts at any given time, with terms and obligations to monitor and risk to mitigate.
Although contract drafting, reviewing, and analysis is often business-critical, it’s also costly, tedious, and time-consuming work — all of which can lead to risk. According to recent data from Thomson Reuters, many law departments have acknowledged this and are looking to innovative solutions in contract management and contract analysis powered by artificial intelligence (AI).
AI-driven contract analysis tools relieve attorneys of unrelenting administrative work, freeing them up to spend more time assessing and mitigating risk, identifying opportunities, and delivering essential insights to their companies and clients.
Drawing on the latest data and expert insights, this report will highlight:
- The importance to your organization of ensuring your contracting is done efficiently
- How the combination of data, expertise, and technology can power more efficient and effective processes
- The ways in which your law department can save time and costs and reduce risk by utilizing AI-powered technology