PracticeLeague Transforms Contract
Lifecycle Management with AI and Blockchain
Artificial Intelligence in Legal Contracts
"Data is key to unlock infinite opportunities for your business"
Legal Contract in a business is a knowledge repository that contains critical data on organizational commitments, obligations, rights, remedies, and rules that reflect business decisions made in the past that will affect performance in the future. Without incorporating huge amount of time and intelligence, this huge collection of data does not provide collective insight that can be used by the Corporate Legal Department to reduce risk and increase value for their enterprise.
For matters related to contracts and other documentation, an artificial intelligence can scan through the terminologies, policies, rights, conditions, and extract the right data to summarize and derive insight. The machine takes little or negligible time to understand your Business workflow, to ensure every contract follows the diverse and streamlined rule to retain the business integrity.
Artificial Intelligence will not only highly digitize legal technology but will transform information into a structured data, which will derive risk factors adhering to compliance to avert while managing the documents.
Using IBM Watson, PracticeLeague has created an advanced Artificial Intelligence engine with most powerful cognitive artificial intelligence, machine learning and natural language processing capabilities. PracticeLeague is integrated with Contract Lifecycle Management system to provide an AI powered, end-to-end intelligent platform.
PracticeLeague AI enables enterprises to transform their current manual processes to highly efficient AI powered automated processes.
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Extract unstructured data from contracts to intelligent information.
Summarize, analyze and derive key intelligence to identify critical risks and latent opportunities.
Recommending missing clauses or finding clauses in the proposed contract that might put you in financial risk
Actionable insights on the obligations or benchmarks within the contracts
Build a high-level knowledge repository to gain profound intelligence of the enterprise
Legal Departments can harness the augmented intelligence to create, plan, predict, strategize and optimize decisions at improved efficiency and effectiveness level of their enterprise. Repeated or complex metrices of information are recorded to make the future process easier. Hence, empowering the Enterprise Legal Department to stay on top of the productive curve.