Agiloft Enhances Contract Management with Innovative Generative AI Features
In a significant stride towards revolutionizing the contract management landscape, Agiloft has unveiled a suite of generative AI capabilities aimed at empowering legal teams to enhance efficiency and accuracy in their workflows. The introduction of features such as GenAI Prompt Lab, ConvoAI Document QA, and Screens demonstrates Agiloft's commitment to integrating cutting-edge technology into its data-first contract lifecycle management (CLM) platform.
As organizations increasingly recognize the value of data-driven decision-making, Agiloft's new offerings seek to unlock contract data potential, helping legal teams streamline operations and deliver tangible business outcomes.
At the heart of these innovations is the concept of white box AI. This unique approach grants users complete transparency regarding the AI's decision-making process, fostering trust and enabling legal professionals to engage directly with the information. Through ConvoAI Document QA, users can directly ask questions about contract terms, receiving AI-generated responses that reference specific document sections, thus eliminating guesswork and enhancing clarity. This system not only augments accuracy in contract review processes but also provides the ability for users to quickly navigate to and validate the supporting information.
"AI is most powerful when it adapts to how you work," asserts Andy Wishart, Chief Product Officer at Agiloft. His comments highlight the adaptability of the platform, as legal teams can customize AI prompts within their clause libraries to align with their specific needs effectively. The GenAI Prompt Lab allows attorneys to create, evaluate, and manage clauses dynamically, accelerating the contract lifecycle with increased precision.
Moreover, Agiloft's capabilities come with out-of-the-box prompts equipped to swiftly analyze and suggest standard and fallback clauses from existing documentation. These tools can evaluate vast repositories of clauses in a single sweep, helping legal professionals identify deviations from standard texts, flag potential risks, and ensure compliance with organizational criteria. This proactive approach to risk management ensures that contracts are not only compliant but tailored to protect organizational interests best.
A case in point is Rush University, which has successfully implemented Agiloft’s generative AI technology, resulting in a 20% decrease in the creation of new purchase orders by improving the contract review process. Their procurement department has leveraged self-configured generative AI prompts, enabling efficient contract assessments that streamline processes and enhance communication with vendors.
Agiloft’s "AI Your Way" initiative allows clients to tailor these AI capabilities to their operational needs, improving efficiencies and allowing legal teams to focus on more impactful work. The recent acquisition of Screens further augments Agiloft's offerings, introducing intelligent contract review mechanisms, providing organizations with a robust toolset to enhance their contract management effectively.
For those interested in learning more about how Agiloft's innovative approach to generative AI is shaping the future of contract management, additional information is available on the company’s website at agiloft.com. Agiloft remains dedicated to helping businesses realize the full potential of their contract data through intelligent, automated solutions that redefine industry standards for contract lifecycle management.
As organizations increasingly recognize the value of data-driven decision-making, Agiloft's new offerings seek to unlock contract data potential, helping legal teams streamline operations and deliver tangible business outcomes.
At the heart of these innovations is the concept of white box AI. This unique approach grants users complete transparency regarding the AI's decision-making process, fostering trust and enabling legal professionals to engage directly with the information. Through ConvoAI Document QA, users can directly ask questions about contract terms, receiving AI-generated responses that reference specific document sections, thus eliminating guesswork and enhancing clarity. This system not only augments accuracy in contract review processes but also provides the ability for users to quickly navigate to and validate the supporting information.
"AI is most powerful when it adapts to how you work," asserts Andy Wishart, Chief Product Officer at Agiloft. His comments highlight the adaptability of the platform, as legal teams can customize AI prompts within their clause libraries to align with their specific needs effectively. The GenAI Prompt Lab allows attorneys to create, evaluate, and manage clauses dynamically, accelerating the contract lifecycle with increased precision.
Moreover, Agiloft's capabilities come with out-of-the-box prompts equipped to swiftly analyze and suggest standard and fallback clauses from existing documentation. These tools can evaluate vast repositories of clauses in a single sweep, helping legal professionals identify deviations from standard texts, flag potential risks, and ensure compliance with organizational criteria. This proactive approach to risk management ensures that contracts are not only compliant but tailored to protect organizational interests best.
A case in point is Rush University, which has successfully implemented Agiloft’s generative AI technology, resulting in a 20% decrease in the creation of new purchase orders by improving the contract review process. Their procurement department has leveraged self-configured generative AI prompts, enabling efficient contract assessments that streamline processes and enhance communication with vendors.
Agiloft’s "AI Your Way" initiative allows clients to tailor these AI capabilities to their operational needs, improving efficiencies and allowing legal teams to focus on more impactful work. The recent acquisition of Screens further augments Agiloft's offerings, introducing intelligent contract review mechanisms, providing organizations with a robust toolset to enhance their contract management effectively.
For those interested in learning more about how Agiloft's innovative approach to generative AI is shaping the future of contract management, additional information is available on the company’s website at agiloft.com. Agiloft remains dedicated to helping businesses realize the full potential of their contract data through intelligent, automated solutions that redefine industry standards for contract lifecycle management.
Topics Business Technology）
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