There is an almost limitless abundance of wildlife within the animal kingdom. And yet, some zoologists can recognize thousands of species, along with how they function within their ecosystems, how they behave, what they eat, where they obtain shelter, etc. But how do zoologists come to know so much about the creatures around us? The answer is through repeated exposure to and study of such beasts.
Similarly, contract artificial intelligence within contract management software can come to recognize almost countless different types of clauses within contracts - if said contract intelligence engine is fed a "nutritious diet" of various contract clauses and terms. Such is the idea behind CobbleStone Software's million-clause initiative to nourish and enhance its proprietary contract artificial intelligence engine with machine learning - VISDOM® AI.
A Smarter Contract AI Engine
To become more intelligent for better contract management processes, AI-based contract management software needs to be exposed to various clauses and phrases that can be found within a wide variety of different contract types for ranging industries. Much like our zoologists can grow exponentially more knowledgeable about the animal kingdom with numerous studies and interactions with wildlife, VISDOM AI within CobbleStone Contract Insight® can grow evermore intelligent with continuous exposure to contract content.
CobbleStone aims to enter a staggering 1,000,000 clauses into VISDOM AI for an incredibly powerful repository of real-life clauses for machine learning. CobbleStone has already fed VISDOM hundreds of thousands of contract clauses. Natural language processes (NLP) and named-entity recognition are the foundations of this momentous and bold initiative.
Not only will VISDOM AI's knowledge base include over 140 standard clauses, but it will also include uncommon clause categories tailored to industry-specific contract management needs. Some common clauses that VISDOM ingests to become even more powerful are:
- Indemnification Clauses
- Assignability Clauses
- Notices
- Jurisdiction Clauses
- Value Clauses
- Confidentiality Clauses
- Amendments
- Waivers
- Intellectual Property Clauses
How Does This Affect CobbleStone Users?
CobbleStone users with VISDOM will be able to enjoy a contract artificial intelligence engine that has learned from up to 1 million clauses out of the box! VISDOM will be familiar with over 140 common clause types and many industry-specific and situational clause types. CobbleStone's clause classifiers have already introduced over 300 different clause types as of writing!
Chris McCafferty - Senior .Net Developer and AI Expert at CobbleStone Software - who has been instrumental in the million-clause initiative - states,
"A variety of training data is essential for accurate classification and extraction. CobbleStone's million-clause initiative will provide the base data required to consistently recognize clauses from a broad range of industries."
Users can also easily add their own clauses to VISDOM for machine learning in addition to the ones being introduced in this million-clause initiative.
Get Started With Acclaimed, AI-Powered Contract Management Software
In the age of legal operations digital transformation, it is important that your organization is supported with a leading, trusted contract management software that is built on a foundation of contract AI with machine learning. The only solution that offers the features mentioned above and more is CobbleStone Contract Insight.
CobbleStone's leading CLM software platform has been critically acclaimed by users and third-party analysts alike. CobbleStone's seamlessly integrated and user-friendly contract lifecycle management suite is built on contract intelligence with machine learning so users can enjoy a platform that grows with exposure to contracts, CobbleStone is low-friction and highly flexible, and has been trusted by organizations from various industries.
Discover why thousands of contract management teams worldwide trust CobbleStone's AI-powered contract management software. Book your free demo today!
