If you're looking for an efficient solution for checklist risk reviews of third-party, inbound contracts, ThoughtRiver has you covered. Our platform uses the power of Lexible® artificial intelligence engine to read and analyze contracts, giving you accurate insights without needing to go through every detail.
Lexible is an AI technology designed to ask the same human language questions as your lawyers would. It uses human language Q&A technology to help you understand the points of meaning in your contracts. Whether you need answers to general or nuanced legal points, Lexible Fusion's structured dictionary of legal questions has got you covered.
Lexible distinguishes between your obligations, risks, and rights versus the counterparty's, with an accuracy level of 97%. We know how important precision is when it comes to legal contracts. That's why we've focused on a rigorous training process to ensure consistency and quality of data used to train Lexible in a precise way.
Crowdsourcing training just doesn’t work because human lawyers disagree a surprising amount of time, even on fundamental concepts. This disagreement in training data is like providing a human with a blurry picture… sometimes you’ll figure out what’s in the picture and sometimes you won’t.
We tested the accuracy of human lawyers versus Lexible and found that when accuracy is 80% or above, it provides value. However, human manual reviews varied between 72-88% accuracy depending on the review speed. Our first Lexible model was much faster than human reviews, but still lacked trust.
To earn your trust, we set out to ensure that Lexible is 95% or more accurate. With the release of Lexible Fusion, we're proud to say that our accuracy metric surpasses expectations, delivering world-leading 97.6% accuracy.
To earn trust, Lexible needed to be 95% or more accurate. With the release of Lexible Fusion, we’re proud to be able to share our accuracy metric surpasses expectations delivering world leading 97.6% accuracy.
At ThoughtRiver, we believe in the use of AI in legal services to simplify and improve the contract review process. Our Lexible Fusion engine is one such example of AI in law firms that can help automate the legal review process, saving time and improving accuracy.
We invite you to book a demo to see how Lexible Fusion can help you streamline your contract review process with its world-leading accuracy. Alternatively, watch our On-Demand Webinar to learn more about accuracy metrics and legal AI software.
In summary, ThoughtRiver's Lexible Fusion is the world's most accurate legal AI engine, designed to answer general to nuanced legal points with 97% accuracy. Its precision, value, and trust make it an ideal choice for AI in law firms looking to improve their contract review process.