Contract Insights

Business automation is already sharpening professional methods across a variety of industries.  However, advancements in artificial intelligence (AI)  can be particularly advantageous as they apply to contract management software systems. Contract intelligence engines built upon a foundation of machine learning just need to be fed a nutritious diet of relevant contract data. Let's explore AI contract management in more detail and learn how to increase accuracy and minimize human error in contract lifecycle management (CLM).

Conversations about artificial intelligence (AI) and machine learning in a business setting are important. According to a study performed by MIT Sloan Management Review, over 80% of organizations see advanced AI as a vehicle for strategic opportunity. Additionally, 85% of organizations view AI as a means for competitive business advantages.¹

This interest in – and implementation of – AI applies to legal professionals, in-house legal teams, and other contract managers as well. Manually managing and reviewing an ever-increasing number of contracts and legal documents of varying complexity is stressful and inefficient. But it does not have to be.

Organizations can improve contract review and contract automation with AI-powered contract management software.

A healthy contract management process should constantly be adapting to technological advancements.  As contract volume and contract complexity begin to grow, organizations must embrace digital transformation to be furnished with the right tools to streamline the contract management process.  Such innovative CLM tools can be found within a trusted contract management software system. Read on to learn more.

In the constantly-evolving landscape of business technology, generative artificial intelligence has emerged as an unstoppable force – positively transforming the way businesses across sizes and sectors operate. This tour-de-force of power of generative AI also applies to contract lifecycle management (CLM).