Contract Analytics: A New Artificial Intelligence Endeavor
Lawyers generally associate artificial intelligence with predictive coding software that is used for analyzing data during the discovery phase, but there also isAI software specifically designed for contract analytics, according to a post on the Epiq website.
“AI contract software is ideal for organizations regularly involved in contract analysis and negotiations. For example, both corporate and estate lawyers would likely benefit from this technology because they are frequently exposed to a large number of contracts,” the post states.
The author writes that AI can speed up review and negotiations, strengthen contract capabilities, promote consistency, and give lawyers a competitive edge.
