Contract Lifecycle Management leader Agiloft launches no-code AI Trainer to deliver fully individualized AI contract analysis to legal and contract teams.
REDWOOD CITY, Calif., Aug. 15, 2023 /PRNewswire/ — Agiloft, the global standard in agile contract lifecycle management (CLM), today announced the release of AI Trainer, a powerful, new AI model training capability that will empower non-technical users to fully customize the way they review and analyze contracts. Designed to be a force multiplier for legal and contract teams, AI Trainer empowers non-technical, subject matter experts to train Agiloft’s AI to identify important key terms and clauses, so they can quickly analyze and draw actionable insights from their contracts, then share that business-critical intelligence with the rest of their organization to drive real enterprise value. Agiloft’s AI Trainer also actively accelerates its own training process by continuously learning and then auto-suggesting additional relevant data for users to consider tagging.
“No two contracts are quite alike, nor are any two organizations. That is why relying on pre-trained, generic AI models alone simply does not get the job done,” explained Agiloft’s Chief Product Officer Andy Wishart. “We are introducing AI Trainer to ensure more organizations can use our best-of-breed AI to surface, analyze, and report on their contracts effectively. This provides legal and contracting teams with an easy-to-use, self-service tool that helps them codify their expertise to enhance the automation of the contracting process. AI Trainer empowers the very teams who are closest to the contracting process and gives them a way to train and individualize the systems they use to uncover and categorize key terms and clauses in their contracts.”
Unlike other AI solutions on the market, AI Trainer is designed to put the power of artificial intelligence fully into the hands of non-technical users. In keeping with the entire Agiloft platform, AI Trainer offers users a no-code environment to create their own AI models to better automate the process of reviewing large numbers of contracts. This will accelerate contract review cycles and help organizations reveal the valuable information that can otherwise be trapped in their contracts.
“CLM should be viewed as an enterprise solution, rather than just legal technology, so a legal department’s partners – in sales, procurement, and finance – need to be able to easily find and interact with the invaluable data that is contained within their contracts,” adds Eric Laughlin, Agiloft’s CEO. “Using AI to identify party names, dates, and common clauses is necessary but insufficient. The organizations that create competitive advantage will be those who are able to extract and use the information that is uniquely valuable to their environment and unlikely to be covered by pre-trained models – for example legal and commercial terms unique to their industry niche or company. That’s why we are so excited for our customers to use AI trainer – it puts that power in their hands.”
AI Trainer enables users to easily create custom AI models to examine business-specific elements of their contracts, including clauses, important key terms, and obligations that will help them to monitor risk, performance, and compliance. The outcome is a rapid, individualized model of an organization’s contracts, which enables teams to surface potential risks before they become problems, identify opportunities for competitive advantage, and ensure compliance across a range of regulations.
As the global leader in agile contract lifecycle management (CLM) software, and the only CLM provider to offer a money-back guarantee on their software, Agiloft is trusted to provide significant savings in purchasing, enable more efficient legal operations, and accelerate sales cycles, all while drastically lowering compliance risk. Agiloft’s adaptable no-code platform ensures rapid deployment and a fully extensible system. Using contracts as the core system of commercial record, Agiloft’s CLM software leverages AI in a pragmatic manner to improve contract management for legal departments, procurement, and sales operations. Visit www.agiloft.com for more.
Media Contact: Jeffrey Miesbauer, Agiloft, 650-459-5637 ext. 4003