It has been a while since I asked a question. I am sure that this question has been asked here, but AI and contract reviews - is anyone using any solution to assist, and how is it working out?
I have been on many, MANY demos, and I am finding it really hard to find anything that might suit; and it could be our usecase is too broad. I am largely looking at it for two reasons (i) to support any diligence process (i.e. M&A), and (ii) contracts review and negotiation. There seem to be so many solutions out there - but many of them are very "new" so it is hard to find tried and tested solutions.
Really looking for recommendations. Thanks in advance.
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No recommendations sadly but avoid LinkSquares FFS
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My experience is that they can identify certain things they are trained to look for and flag them and copy the relevant provision verbatim into some kind of report but we are a way of them actually being able to summarise stuff so any report they produce will still need editing by a human.
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What Sails said. Anything which requires accuracy can’t be done by AI. The AI takeover of law is (currently) massively overblown IMO.
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It's not so much accuracy but it can tell you a lease has a provision restricting underletting and it will copy and past the text in a report but won't simplify it down to "underletting requires landlord's consent".
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check Casetext.com for CoCounsel Core, they're a part of Westlaw. One of it's key skills is contract review.
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I don't think AI is there yet for law firms. For in house teams where you might have commercial people or want commercial people to take a first cut or you have an offshore team that you want to focus on specific things (indemnities, data protection, limitation of liability) there are decent solutions that will do a good enough job
the best tool is still having reasonably balanced legible agreements that the other side can agree to
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