Where will AI take us? AI continues to find new ways to transform laborious tasks in the legal field and has gained strong footing globally. With its growing use in otherwise time-consuming and labor-intensive activities, lawyers can focus their time, cost and expertise on more specialized tasks. Popular uses of AI technology are in the […]
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Data analytics is the hot, new trend in contract management, allowing companies to now see contracts as a key source of intelligence that can be used to guide business strategy. Some of its key areas of focus are monitoring contract performance to maximize business impact, comparing actual data against estimates, and forecasting future sales. Businesses […]
Procurement teams generate massive amounts of data but 40% of companies feel they can achieve large savings in their procurement contracts by managing contracts better. Data analytics can effectively derive insights from contractual data to realize sourced and negotiated savings, enforce supplier compliance, and manage internal obligations. But to do this you need to link […]
Text Analytics systems such as Technology Assisted Review (TAR) and Predictive Analysis have been around for some time now, but Indian law firms have only recently begun employing them in their operations. TAR is now being used by several Indian firms to simplify otherwise labor-intensive activities. For example, with the help of numbers-based text analytics, […]