Procurement should be leading the charge to equip organizations with the supplies and resources that move business forward. But they’re increasingly bogged down with rote contract negotiating and review tasks that frequently must be escalated to Legal, depending on the experience of available personnel.
Ideally, Procurement would focus solely on negotiating deals and saving costs
The evolution of legal AI
They say we fear what we don’t understand. “It’s a little hard to trust something you can’t look in the eyes” – said astronaut John Glenn in the movie “Hidden Figures”, as he was preparing to launch to space and become the first American to orbit Earth in 1962, but
LawGeex Survey Shows Legal Teams Struggle to Reach Success Without Technology
Artificial intelligence has changed the face of many industries globally. From banking and finance to automotive, marketing, and healthcare, AI is enabling greater efficiency in multiple use cases – and the legal sector is no different. But where other industries have embraced AI and
Contract management is not a simple task. It should be. It can be. But for many companies it presents a formidable challenge.
Outdated, paper-based practices can have damaging legal and business consequences, exposing a company to high costs and liability for contractual and regulatory non-compliance.
Companies typically lose between 5% to 40% of value on
As pioneers of AI contract review and creators of the Contract Review Automation (CRA) category itself, we are always interested in seeing new solutions come to market and their approach to automating the contract review process. In light of the growing number of companies offering varying degrees of contract review capabilities, we received several
Industry 4.0 is coming for legal departments. From cloud services to artificial intelligence, innovative technologies are changing the way legal teams work.
The Fourth Industrial Revolution is also changing companies’ expectations of their legal departments. For some, digital transformation is disconcerting. Lawyers are notoriously risk-averse, which leads to slow adoption of new technologies. Gartner’s Roadmap
Crisis-oriented or just the usual daily routine, the daily work of legal experts has become more results-driven and requires a greater emphasis on efficiency and improved processes.
Adopting technology can be the first step towards this, especially for reviewing routine contracts like NDAs, SLAs, or DPAs. These contracts specify the binding agreement between parties