Artificial Intelligence in Contract Lifecycle Management
After my last article on 10 essential features of Contract Management, I now want to dive deeper into one of them: Artificial Intelligence. As per The Global CIO Point of View, a survey conducted by ServiceNow, nearly 9 out of 10 CIOs already use machine-learning technology or have plans to adopt it. Many of us are aware of the ML & AI but we are yet to unleash the full potential of what AI has in store for many different use cases.
If you are managing contracts for a living, this article is dedicated to all curious brains like you, who have been asking “How can AI impact my day to day life?”. So, the role of AI in CLM can broadly be divided into three categories:
1. Contract data extraction from active contracts, using ML
2. AI-powered assistance during Contract Authoring
3. AI-based contract obligations Management
Click on the link below, to learn more about each of the categories mentioned above.
