Odd Lots The ROI Rules of AI: Sirion's Legal AI (Sponsored Content)
Oct 13, 2024
Discover how contract lifecycle management software can reshape business strategies. The discussion highlights the transformation from traditional review methods to generative AI and machine learning, emphasizing efficiency and precision. Learn about groundbreaking advancements that significantly cut down contract review times through automation. Insights for mid-sized businesses on leveraging generative AI to harness valuable data and enhance decision-making are also explored, showcasing practical strategies for embracing this technology.
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Redlining History
- Redlining originated from marking paper contracts with red pen.
- This practice has transitioned into the digital age, but the term persists.
Generative AI Impact on Redlining
- Manual contract review (redlining) is slow, averaging 13 minutes per page.
- Generative AI significantly accelerates this process, reducing review time from days or weeks to minutes.
Sirion's Playbook Approach
- Sirion combines open-source LLMs with custom playbooks to expedite contract review.
- Playbooks define a company's preferred legal stances on various issues, enabling faster negotiation.