AI Use Case

Automate contract due diligence

Ensure that a contract does not contain hidden obligations, liabilities or other legal exposure. And also ensure compliance with increasingly complex and every changing regulations, such as IFRS.

Function

Legal And Compliance

Legal

Benefits

Cost - Job automation,Operational Support - Issue / outlier ID,Risk reduction - Reduced legal exposure

Case Studies

Thomson Reuters~Thomson Reuters expedites the remediation process by 30% for clients using a machine-learning contract analytics platform,"""Osler, Hoskin & Harcourt LLP""~Osler, Hoskin & Harcourt LLP increases document review efficiency by using Kira document analysis software to draw out relevant information from contracts",British Telecom~British Telecom saves an estimated £100M a year using the automated contract analysis platform RAVN,Dell~Dell reduces costs while ensuring contractual obligations are met with contract analysis automation,Mondelēz International~Mondelēz International saved on expenses by automating client contract analysis ensuring corporate spinoff delivered on-time and budget,Freshfields Bruckhaus Deringer~Freshfields Bruckhaus Deringer identifies discrepancies in rent contract documents and collections during real estate investment due dilligence using automated contract analysis ,CAS~CAS reduces time spent on contract analysis for Brexit implications by 75% using a machine learning platform,Portolano Cavallo~Portolano Cavallo reduces manual document review time by 33% for merger and acquisition due diligence using Luminance's machine learning platform,SoftBank~SoftBank accelerates due diligence of ARM acquisition by reducing patent portfolio searching from weeks to day using machine learning

Industry

Professional Services

Legal

Data Sets

Text

AI Technologies

Machine Learning (ML),Product Type - Natural Language Processing (NLP),Product - Optical Character Recognition (OCR),ML Task - Prediction - Data Translation/Transformation,ML Task - Prediction - Annotation,ML Task - Prediction - Multi-class Classification,ML Task - Prediction - Binary Classification,Product Type - NLP - Text Entity Extraction

Potential Vendors

eBrevia,Kira Systems,Ravn Systems,Axiom,Axiom,Leverton,Luminance,Luminance,Aistemos