'Summer of AI' might seem a bit weird if you aren’t in the Southern Hemisphere, but as an NZ-based company so you’ll have to bear with us enjoying the summer sunshine as the rest of you trudge wearily into a wet winter. As AI capabilities from Agiloft roll out around the world, we thought we’d take the time to inform you of Agiloft’s AI platform goals and expected benefits as something for you to look forwards to and potentially explore.
This year was our big introduction to Agiloft AI, and while we’re dying to tell you more about it we would also encourage you to check out this excellent webinar with Andy Wishart, Jamie Krumrich, and Marisa Hobbs.
If you want to take a more direct approach to see what an AI platform can do for you right now, reach out to us at: solutions@saasamgroup.com and we can give you a more in-depth look at what kind of implementation will provide the best results for you.
Your contracts are filled with essential data, including parties, deadlines, obligations, and more. But this data can only be fully tapped into if you have an easy way to surface, organise, and search it.
Artificial intelligence has been touted as THE solution to this problem, but generic AI models are typically insufficient, as they often can’t detect the key terms and clauses uniquely valuable to your organisation. AI – like your CLM solution – is a type of tool not the specific tool itself, so choosing, customising, and correctly implementing an AI upgrade that suits your needs is always better than pointing a box labelled 'A.I' at the problem and hoping it works!
The benefits from Agiloft’s AI tools are that they keep in line with Agiloft’s CLM philosophy: that you should be able to customise and tweak your AI tool to do exactly what you want it to do. Like with the no-code platform, Agiloft is dedicated towards empowering non-techical users to fully customise their AI platforms without any coding needed.
But how is AI going to supercharge my already fancy and cool CLM platform? What does it do? Is it anything like the Steven Spielberg movie? Haven’t we already had an AI announcement?
Well luckily for you, we’ve got the answers to those specific questions below.
Data Unlocking Data
At SaaSam and Agiloft, we’re always looking for new ways to unlock the power of your contracts. Agiloft’s new AI platform consists of a suite of powerful features that enable you to cut down on tedious, manual tasks and unlock the critical business intelligence inside your contract data.
The idea behind the platform is to build connected, intelligent, and autonomous contracting processes that will help unlock the value of contract data and help accelerate your business – in a sense the new AI platform aims to be like a cheat code or a super-charged guide to focus-in and identify your individual data points and help you take action using them.
Agiloft CLM was already easy to use, convenient, and able to help you access and analyse what’s going on with your contracts - especially if it was implemented by SaaSam – an incredible and outrageously photogenic team of implementation professionals. Agiloft’s AI platform alongside ConvoAI are here to take that to the next level in terms of speed, efficiency, and reliability.
Kickstart your journey to intelligent and optimised contracting with the following features:
AI Trainer
First and foremost is the AI Trainer. Flex and customise AI models to wrap around your unique contracts and the metadata most essential to you. With the AI model customization workbench, you can design AI models that detect the key terms and clauses most important to your organization, plus adapt your models over time to mirror your evolving business needs.
The most important part of the AI trainer is that the goal for it is to ensure that you do not need to be an expert in coding, data, or programming to use it – the AI Trainer is designed to be able to be utilisied fully by people who are primarily fluent In contracts and company goals (in an earlier blog we mentioned that we thought that legal professionals with great tech skills will be highly valued in the future – this is one of the reasons why!).
Legacy Import
There’s no point in using a tool that can only look towards the future for data gathering – the new AI platform will allow you to rapidly ingest historical documents and extract key metadata with an intuitive legacy import tool. Quickly enrich your contract records and centralise your document storage, in turn enabling you to easily search, track, and analyse your contract portfolio. With AI Platform, Agiloft provides an updated and easy-to-use workflow for converting many documents into Agiloft records. You can use this tool to import legacy contracts and create corresponding contract records with searchable field data, but you can also use it to import any group of contracts in a batch.
Third-Party Contract Review
Reduce the time and cost of closing contracts written on third party paper by quickly detecting the presence of key terms and clauses. Have greater confidence that you’re not overlooking risky language by relying solely on manual review of dense contracts.
Boosting Your Search Capabilities With ConvoAI
So what’s the difference between the Agiloft AI platform and the previous ConvoAI release?
ConvoAI is a natural language search tool which enables users across your organisation to quickly locate the documents and details they need. Search within your documents using our natural language search tool ConvoAI, powered by Cognizer’s Genius Platform so that you can quickly locate the documents and details you need by typing your questions and follow-ups, as opposed to worrying about keywords and filters. ConvoAI helps your contracts communicate with one-another.
If you're looking to take the next step into this brave new world and explore all of the ways AI can help you take your CLM project to the next level, contact us at: solutions@saasamgroup.com and we'll organise a call!
Original article by Em Atteberry (https://www.agiloft.com/blog/how-agiloft-puts-the-power-of-ai-into-your-hands/), additional words by C. Redpath
