Delivering Outcomes, Not Just Experiments, With AI in Legal Technology
Introducing The Contract Network – the world’s first AI-powered contract collaboration platform that revolutionizes contract negotiations. By harnessing the power of AI, every participant in a negotiation, from contracting parties to their counsel, gains a powerful ally. The result? Faster, easier, and more collaborative negotiations that deliver impactful outcomes. Join us in transforming the world of contract negotiations with The Contract Network.
May 12, 2023
As we launch The Contract Network, we are excited about introducing a revolutionary shift in contracting – the first AI-powered contract collaboration platform.
We’re not just introducing artificial intelligence (AI) as a trendy tech tool; we’re pioneering its use to deliver tangible, impactful outcomes in the world of contract negotiations. What ignites our excitement is the profound transformation that happens when every participant in a negotiation – the contracting parties, their counsel, and other key stakeholders – has AI as their ally. Imagine the exponential possibilities: negotiations become faster, easier, and ultimately more collaborative. This is the promise of The Contract Network.
Harnessing the Power of AI for All
Our adoption of OpenAI’s Large Language Models as a cornerstone of the platform places robust AI tools into the hands of both sides of the negotiation table. These tools streamline the review process, refine revisions, and expedite comparisons to standards. This approach fuels efficiency, fairness, and balance in contract collaboration, delivering real-world results that bring value to all parties involved.
The Future of Contract Collaboration with AI
Contracts, in our vision, aren’t static documents but dynamic data sources from the get-go. Our AI not only aids in drafting and negotiating agreements but also generates valuable data for managing obligations and compliance right from the first draft.
Furthermore, AI simplifies the process for other stakeholders, creating succinct summaries of changes and open issues from one draft to the next. It offers insights into market trends, and we foresee its potential to suggest or even execute negotiation strategies in the future.
Experience Matters: Ensuring Integrity, Security, and Transparency
With over 20 years of experience in legal technology, our leadership team recognizes the crucial significance of integrity, security, and transparency. This expertise has enabled us to shape an AI platform that upholds these principles, integrating numerous layers of privacy protection, such as data anonymization, strict access controls, data encryption, and a non-retention data policy.
Experience Delivers Outcomes and Value
Our expertise extends beyond mere technological comprehension. We possess a proven track record of consistently delivering valuable outcomes. We have employed AI to expedite the review of tens of millions of contracts and over 100 million emails, all on behalf of numerous leading global organizations. We have witnessed the tangible benefits and comprehend the diligent efforts required to actualize them.
Conclusion: AI, Outcomes, and the Future of Contract Collaboration
As we launch The Contract Network, we are stepping into a new era of contracting – the era of AI-powered contract collaboration. Our focus is on using AI as a facilitator to deliver real-world results, drive value, and maintain the integrity, security, and fairness of our platform.
We invite you to join us in this journey, where AI is not just a technological novelty, but a transformative force delivering tangible outcomes for all parties in contract negotiation.
Phil Richards, Chief Technology Officer
Phil, an accomplished technology leader and entrepreneur, brings years of experience in innovating natural language analytics and data processing to The Contract Network, having co-founded Clairvoya and served as CTO at Breakwater Solutions. With expertise in principles related to process improvements and reducing volatility, Phil is poised to revolutionize the contracting process.