AI Pre-Screening Technology: A New Era for Contracts? – ThoughtRiver
Time-short legal professionals are increasingly overworked, swamped with agreements to review and approve. Yet at the same time, the GC’s team is under immense pressure to identify and mitigate risks, while also approve commercial activities that will empower business growth.
Drowning in paperwork, the GC’s team spends hours each day on basic tasks below their capabilities, often handed contracts for a ‘quick once-over’ before they’re signed. Such conditions are alarmingly common, and carry a number of risks for the business.
Important clauses may be overlooked. There may be skill gaps or differences of opinion between the legal team, causing ambiguity and inconsistency. Contracts may be passed to untrained sales or procurement colleagues for review in an attempt to speed the process along.
Read the full article on the Artificial Lawyer website.