Large numbers of contracts must be managed and this may involve reviewing tens, hundreds, or even thousands of them for specific terms. This means a lot of exhausting, inefficient work for those water carriers in your team, plowing through each document, page by page for hours and hours on end. Automated AI contract review would abolish this 1990s type of labour. Because there is no automation involved of inadequate for the purpose, this Sisyphean task may occur every now and then, but it might also be periodically required.
AI based technology searches instantly for relevant words and phrases, which it then tags with appropriate labels. The technique behind that is to automatically convert uploaded documents to searchable text. That is very valuable but not anything brand new. Some see AI as a holy grail, We see it as very useful technology; not new, but about 15 years old.
For Weagree, introducing Automated AI contract review was a natural, easy step to take. AI is becoming a sort of our team mate; we have been through a lot with each other and we will ride up together every time when new techniques come available for our customers.
The Weagree Wizard is perfectly fit for AI. The AI contract review technology is mature and has been developed for almost 15 years now.