Draft Contracts with Ease: Digitalized Legal Processes
Reviewing legal documents is an extremely time-consuming and expensive procedure. Good lawyers are in high demand, but they are few and far between. It therefore makes a lot of sense to draw on artificial intelligence for assistance in this area.
The objective is not to take the power to make decisions away from legal experts. Much rather the goal is to gain support in handling repetitive processes by accelerating and simplifying these with digital tools and specialized functions. The focus rests on the review of textual content of legal documents such as non-disclosure agreements, NDAs or even GTCs. AI systems can learn to compare clauses in specific frameworks, highlight critical sections and suggest alternative wordings.
While this may not sound particularly spectacular, it’s immensely efficient.