If you are looking for a contracts AI provider to support your company’s AI contract management, the following list of world-class players in this space can help you quickly find service providers best suited for your needs.
We’ve compiled a list of some of the best companies that operate in the contracts space leveraging the power of artificial intelligence (AI) and machine learning (ML). These legal AI players incorporate emerging technologies either fully or partially to automate services across the lifecycle of contracts ranging from drafting, reviewing, redlining, and negotiation to end-to-end management.
AI and ML help to increase the speed and accuracy of various processes within contract management at just a fraction of the manual cost. This frees-up expert from investing their time and expertise in mundane or repetitive tasks. Instead, it allows them to focus on tasks adding great value to the business or clients.
Companies in the legal space have often been considered the slow adopters of new technologies. However, the COVID-19 pandemic has completely changed this, forcing many to accelerate their investment in this space to continue serving their clients amidst remote working and virtual collaboration.
The 2020 RELX Emerging Tech Executive Report, surveyed over 1,000 senior executives in the US, and found that 68% had increased their investment in AI technologies during the pandemic. Of these, 48% had invested in new AI technologies, and 46% increased their investment in AI tech they already use.
Companies use legal analytics for legal research, developing strategies for various cases, and business development. Within the contract space, AI can speed up clause extraction, search, review, and keeps track of obligations, among a host of other tasks. Most importantly, it can help companies cut costs.
Akorda Akorda offers legal review and contract management software. It allows law firms to manage legal contracts, manage workflow processes and contracts. It uses AI technologies to review legal cases, manage contract life cycles and agreements. |
Blackboiler BlackBoiler is an automated contract markup tool that creates client-specific editing models and leverages these models to markup inbound contracts instantaneously in the Track Changes feature of Microsoft Word. |
Claira Claira is a leading next-gen AI company specializing in legal contract understanding. Built using advanced data science, Claira is pre-trained to comprehend legal language to reveal the underlying logic trapped in financial contracts. |
ContractPodAi ContractPodAi provides AI-based contract management solutions. It enables users to assemble, automate, approve, digitally sign and manage all their contracts and documents from one place. |
Cortical.io Cortical.io Contract Intelligence is an AI-based solution for enterprises that need to review and analyze contracts to extract, classify, search and compare relevant information in documents with a degree of accuracy that is difficult to achieve with manual labor or with other AI-based tools. |
Della Della is a legal technology company providing artificial intelligence to accelerate the review and audit of legal documents. Della has developed a unique question-answering technology, allowing legal professionals to analyze documents based on their own questions and checklists, allowing them to make the best use of their own expertise. |
Diligen Diligen is a contract assistant powered by AI and machine learning that provides high-quality contract review, helping to cut review time in half by automatically identifying key provisions, generating summaries and helping teams manage the contract review process. |
DocJuris DocJuris speeds up and automates contract redlining, delivers reviews with precision and consistency, and empowers teams to negotiate with confidence. |
Donna Donna is an AI assistant that replaces the robot within the lawyer, by making legal contract review error-proof, productive, and fun. Available as an easy-to-download Microsoft Word add-in, Donna is powered by a Natural Language Processing engine that gets smarter as it learns. |
Ebrevia eBrevia automates the contract review process by using machine learning technology. It leverages AI technologies and is used by law firms and corporate legal departments to more efficiently, accurately, and cost-effectively extract and summarize key provisions from legal documents. |
Evisort Evisort is an automated cloud-based contract management software that uses advanced artificial intelligence to extract legal terms and relevant data. |
Genie AI Genie AI is a machine learning company spun out from UCL’s artificial intelligence lab. Their “SuperDrafter” empowers lawyers to draft contracts with machine intelligence, providing a superior client experience. |
Hyperlex Hyperlex is a contract analytics & management solution powered by AI. Hyperlex helps companies manage and make the most of their contract portfolio by extracting relevant information and data to identify revenue opportunities, optimize expenses and better manage risks. |
Kira Systems Kira Systems is a Toronto-based startup that helps enterprises uncover relevant information in unstructured contracts and related documents. Kira offers machine learning models covering due diligence, M&A deal points, general commercial, corporate organization, real estate, ISDA schedules, commitment letters, and non-disclosure agreements. |
Klarity Klarity is a LegalTech company that uses AI to review sales contracts under your company’s legal policy. Klarity pulls contracts from your emails and databases and returns them reviewed in a Word format with annotations and redlines along with a summary. |
LawGeex The LawGeex AI-powered platform reduces cost and accelerates deal closure by automating the complex legal work of pre-signature reviewing, redlining, and negotiating contracts. Legal teams can offload routine work to refocus their efforts on strategic issues and reduce risk and cost. |
Legal Robot Legal Robot leverages ML and deep learning techniques to process legal language, compare it with the language used in other contracts, identify whether the document is a template or customized, measure the readability and complexity of the language, and highlight the rights, responsibilities, and terms within the agreement. |
LegalSifter LegalSifter helps organizations and law firms negotiate and organize contracts using AI and expertise. LegalSifter reviews the incoming contract and compares them against your contract policies, or our library of best practices. |
Legartis Legartis is a Saas solution that analyzes contracts, legal texts, or due diligence documents with the help of machine learning, natural language processing, and artificial intelligence. The software also finds problematic and unusual formulations as well as missing clauses within a very short time – and in several languages. |
Summize Founded in 2018 in Manchester, Summize Ltd is a comprehensive tool that makes contract review, creation, and management easy, wherever you work. It is intelligent, conversational software that supercharges contract processes and unlocks contractual insights. With instant contract summaries, Summize brings a fresh approach, helping in-house legal teams, law firms, and SMEs understand, manage, and review contracts their way. |
Revnue Revnue, offers an AI-powered intelligent digital contract management platform that leverages advanced AI/ML technologies and self-learning capabilities to streamline and simplify the contract management process. The company was founded by a team of veterans from Microsoft, Amazon, Experian, IBM, Warner Bros., and Vmware who have years of experience in digital contracting and a deep passion for technology. |
ThoughtRiver ThoughtRiver’s Contract Acceleration Platform (CAP) is the most advanced, AI-powered, automated contract review solution on the market. The world’s most accurate legal AI helps you quickly identify the issues so you can organize, manage and resolve issues in minutes. Focus on what matters. |
Cenza partners with many contracts AI providers offering contract review specialists to help them transform the contract drafting, reviewing, and management processes.
We offer fully scalable, high-quality, and completely secure outsourced solutions for contract review customized as per their need of client’s AI/ML system training requirements. Irrespective of the type of contracts and unstructured data that needs to be processed, we will assemble the expert review team with the expertise matching your needs, keeping your project on track, on time, and under budget exceeding your requirements for machine learning accuracy.
Considering that the market is constantly evolving, we aim to update this list as often as necessary. Just in case, If you feel your company is missing from this list, do not hesitate to contact us at marketing@cenza.co.
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