When many people think of Artificial Intelligence (AI), they think of robots or smart devices that learn to adapt to their owners and operators over time and with repeated exposure to commands and activities.
At Legal Outsourcing 2.0, we use artificial intelligence and NLP or natural language process to develop cutting edge software platforms that are not just good at finding specific data, but that can learn to find data based on the context of the words within a larger section of text.
In other words, we are able to train our software systems not just to find the data, but to actively seek out the words and the context to find specific information in a document or a contract that would not be possible unless the machine could “think” and understand how humans use language to convey information. This type of AI contract extraction is slowly changing the way that lawyers and law firms do business.
What This Means
One of the challenges of using AI and technology in areas of the law was the inability for the machines to do more than deciphering and finding the specific characters searched for in a document. With the addition of AI and NLP to the equation, our software systems can complete AI contract extraction faster than a human can read and highly the information that the computer identifies as relevant.
Then, trained attorneys or document reviewers can verify the information the software highlights and complete a simple cut and paste into a database using the information from the AI contract extraction. Not only does this speed up the process, but it allows for the human verification of the data without the need to read through pages and pages of irrelevant contractual clauses.
With the use of our software to complete AI contract extraction that is accurate, complete and thoroughly reviews the data, information is right at an attorney’s fingertips. This is leading to better decision making, a complete analysis of data and even a better way to communicate all issues of a case in a much shorter period of time.
To see how our revolutionary AI software can assist with your contract extraction needs.