Artificial Intelligence in Contract Management – Part 2
Pierre Mitchell, writing for Spend Matters, continues his series on artificial intelligence (AI) in contract management by discussing AI and knowledge representation.
“Intelligence is meaningless without knowledge, and vice versa. Albert Einstein as a baby (high intelligence, low knowledge) would be as bad at chess as Wikipedia (high knowledge, low intelligence),” he explains. “Expertise is built on knowledge that adequately models the richness of a certain domain, but high intelligence allows the knowledge to be more effectively and efficiently applied to solve problems.”
He adds his “second main step in a CLM journey is to ‘derive key intelligence from within your contract data … to decipher the legalese down to a granular contract clause level (including metadata).'”