TechCrunch Startup News SpotDraft taps AI to help streamline contract management
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Feb 14, 2025 Legal professionals are rapidly adopting AI, with a survey revealing a surge from 19% to 79% in AI usage for casework. SpotDraft stands out by streamlining contract management through innovative AI technologies. The discussion highlights how this shift is not just a trend but a transformative moment for legal operations. SpotDraft's recent funding boosts its mission to enhance legal tech and usher in efficiency through AI.
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AI in Legal Practices
- Legal professionals are increasingly using AI in their work.
- A survey suggests nearly half of attorneys believe AI can reduce costs.
SpotDraft's Origin
- SpotDraft, founded in 2017, offers contract automation and management software.
- CEO Shashank Bijapur developed the idea while working at a law firm dealing with high volumes of contracts.
SpotDraft's AI Features
- SpotDraft's platform leverages AI to extract key details and clauses from contracts.
- It provides summaries of changes, suggested follow-up work, deadlines, and renewal reminders.