natural language understanding

Advantages of Artificial Intelligence in Enterprise Contract Review and Analysis

Posted: 03/04/2021 - 09:00
Technological advances in artificial intelligence (AI) and machine learning (ML) can help companies overcome the many challenges in dealing with large collections of legal documents and contracts.

Contracting, common for every company, is something that few companies do efficiently or effectively. The process of reviewing contracts and legal documents is manual, tedious and error-prone, exposing organizations to legal risks if not well managed. The financial consequences can also be severe. KPMG estimates that inefficient contracting causes firms to lose up to 40 percent of value on a given deal, depending on circumstances. 

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