Our AI-contracting roadmap - Weagree

Our AI-contracting roadmap

Now that we have established a full-functioning AI-supported contracting, it is time to elaborate our AI-oriented roadmap, and add AI-features.

AI-user experience (UX)

Together with partner-customers, we will introduce various minor UX improvements. An appealing one will be to applying Weagree’s questionnaire-experience to the (post-signing stage) CLM and to the AI-review tooling.

Two remarks – the questionnaire experience:

  • Includes Weagree’s ‘under-water-screen’ (the real-time contract viewer) enabling a quick-view of AI-findings in the contract text.
  • Makes managing and risk-rating contracts more relevant and enhances user-friendliness (seeing only what is relevant for that particular contract).

User-enabling AI features

As AI-review tooling framework is now up and running, it is time to introduce features for end-users to prompt the AI manually. Most of the AI-review is conducted fully automatically, with little need for the end-user to interact. However, users may still want to level up contracting manually:

  • Allow prompts to ask the AI any question about the contract.
  • Select a contract clause or paragraph to ask the AI about its scope, content or meaning, with the option to select a clause from the clause library to compare the two.

Major AI roadmap functionalities

We will develop several major new functionalities further automating ‘contracting actions’ that are traditionally done manually. The use of AI enables an increased level of automation:

  • Generate a defined-format executive summary of a contract (whether in relation to a first draft received by the counterparty, an intermediate negotiation version or the agreed version submitted for approval).
  • Reverse-use of AI-results: to create an ‘own draft’ version (contract or clause-library clause) based on the parameters found in the counterparty’s draft.
  • Automated (Kanban) tasks related to AI review and review-follow-up.
AI based automated contract review GPA 002 AI-contracting roadmap

Contract risk assessment

As lawyers may become less involved in a transaction, risk rating becomes more and more important. (More generally, we see anyhow an increasing need for contract risk assessment.) Therefore, we will:

  • Optimise Weagree’s existing risk rating and risk assessment functionality (e.g. with an option to differentiate in the applied risk assessment method, and an option to aggregate and weigh the risks of a contract).
  • Automatically requiring approval in connection with high-risk ratings. (Triggering approval workflows is already possible for individual Q&A-answers, so this is a minor change.)
  • Contract portfolio review and portfolio contract risk assessment (optimise the existing reporting formats).

Staged AI-review

We will make it possible to conducting an AI-analyses of contracts in successive stages.

  • So, firstly, AI-automatically determine the nature of an uploaded contract or the applicability of a certain clauses
  • Secondly, automatically select the relevant set of AI-prompts and the applicable CLM contract sheet (identifying the relevant parameters for risk assessment and contract management).
  • Finally, if necessary in multiple stages, extensively AI-reviewing the contract (i.e. only for those parameters that were previously identified as relevant or applicable).

Various minor AI-features

Needless to say, we will introduce various minor features related to integrating AI with contract creation, contract risk assessment (or portfolio due diligence) and contract lifecycle management:

  • AI-determine CLM metadata fields (e.g. contract title, currency, background description) through AI-review.
  • Managing AI-reviewed versions (hide old versions from searching and reporting, a mechanism for updating or not-updating metadata over successive AI-reviewed versions, improving the accessibility of the versions).

Enthusiastic?

Would like to walk-through our AI-contract review? see here

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