Robotic Review: The Use of Artificial Intelligence in Contract Review
The use of artificial intelligence technology, though still in its infancy, is gaining traction with law firms, helping to provide better outcomes for clients, faster, writes Russell Kostelak in Proskauer Rose’s Minding Your Business blog.
His article discusses the use of AI in the many phases of contract review: contract creation, contract analysis, and contract due diligence.
“While many law firms rely on templates for initial drafts of a contract, there is no one-size-fits-all template for the intricacies of each situation. AI systems can scan a law firm’s contract library and generate spreadsheet reports sorting and categorizing the underlying data within the contract library,” writes Kostelak.