Category : Legal & Regulatory

Contract AI Tools Bring Together the Best in Human and Artificial Intelligence

Every formal business and legal dealing starts with a contract. Contracts are a source of valuable information in the event of disputes, renewals, or certain strategic decisions. They need to be maintained and tracked to ensure obligations are met by all parties involved. Despite their importance, it is no secret…

5 advantages of migrating legacy contracts to a new CLM system

Legacy contracts are legally binding agreements that are either active or have matured. They are very important to any type of company as they contain quite a bit of information about past decisions that could be pertinent to future strategy. As the legal space becomes more dependent on technology, many…

Why migrating legacy contracts is vital

What are legacy contracts? Legacy contracts are legally binding agreements that are either active or have matured. Sometimes, these contracts can be decades old, making them hard to find or process. While technology has made life easier in terms of actually preparing and navigating contracts, the use of too many…

Five Ways That Artificial Intelligence and Machine Learning Are Transforming Legal Practice

Artificial intelligence can be extremely confusing and a little threatening too, at least for those of us who are not computer scientists.  It introduces us to a strange new vocabulary of terms and concepts, such as natural language processing and neural networks, and we have only the vaguest idea of…

Noted Legal Tech Expert Bob Ambrogi Interviews Contract AI Company LinkSquares CEO

Last week, legal technology expert and journalist Bob Ambrogi interviewed Vishal Sunak, Founder and CEO of LinkSquares, a leading contract AI company. Cenza reports here on the conversation Bob and Vishal had about a major new LinkSquares product announcement, the company, and its place in the legal market. How did…

The Rise of Legal Operations and What Comes Next

Legal operations started as a handful of people two decades ago. Today, it has become a robust discipline with many practitioners. I was delighted to have the chance to interview one of the leading legal operations pioneers, Steph Corey of UpLevel Ops. I met Steph in 2018 doing work for…

Understanding and Managing Force Majeure Risk Resulting from COVID-19

In the last few weeks, as companies around the world have struggled to adapt to the dramatic changes brought about by the COVID-19 pandemic, one of the significant legal issues receiving attention is the potential application of force majeure (FM) provisions in legal contracts.  Often overlooked as boilerplate of no…

Large Law Firms Will Rethink the Operating Model Post Crisis

Controlling Cost in and after the Crisis with Outsourced Document Processing As large US and UK law firms adapt to a lockdown that will last weeks or longer, they must start to think about what comes next. Of course, urgent client work comes first. But many firms already have cut…

Are CLM and AI contract analysis tools converging?

The legal industry is increasingly embracing the use of artificial intelligence (AI) and machine learning (ML), thus enabling a more data-centric and efficient approach to what are usually time- and labor-intensive processes. AI/ML tools are proving to be extremely beneficial to contract lifecycle management (CLM), where technology thus far has…

How AI & ML are transforming legal departments

No industry is untouched by the law. Everything that organizations do from sales to mergers to partnerships is all done via legal contracts. The global legal services market size is anticipated to reach USD 1,04billion by 2025, and the use of the latest technologies will drive this growth. Artificial Intelligence…