ContractPodAi Introduces New AI Capabilities Based on Best-In-Class CLM Principles to Drive Operational Excellence and Transformation
LONDON, UK – 20 March, 2023 – ContractPodAi, the award-winning AI-powered, contract lifecycle management (CLM) platform, today announced the launch of Leah, its new AI services hub that represents a generational shift in the way CLM is delivered.
With the new release, ContractPodAi also shares its AI Best Practice framework as the underlying value-based principles steering the innovation and design of the AI technology to drive smarter, faster, and more predictive outcomes for customers. The three core values of the framework include:
- Following precedents and standardized processes and not “re-inventing the wheel” in contract negotiations with existing vendors and customers
- Measuring contract performance across core business functions and using real time benchmarking analytics with cohort trends to improve performance of contract management function
- Using AI technology in an ethical and responsible manner to drive better outcomes for businesses and their ecosystem stakeholders
“We are excited to share the next generation of AI for advancing contract management,” said Sarvarth Misra, co-founder, and CEO of ContractPodAi. “With Leah, our customers can drive operational excellence by delivering faster time to value and better contract governance, risk, and compliance. The value framework on which the AI technology operates will offer far-reaching benefits including enhanced corporate reputation by using AI responsibly to drive standardization and consistency within customers’ contracting approach to bring a more collaborative and better relationship to their supply chain.”
Leah is built on ContractPodAi using best-of-breed AI technologies, including its own proprietary AI, Microsoft Azure, IBM Watson and now also powered by ChatGPT.
What’s New?
These new AI capabilities are ContractPodAi’s answer to legal teams’ need to automate tasks, eliminate inefficiencies, and reduce risk. Legal teams are now further empowered to drive operational excellence by delivering faster time to value through a more consistent enterprise contracting process. In addition to its wide array of existing AI features, Leah ContractPodAi now offers the following features powered by ChatGPT:
- Leah One Drop: Empowers users to create contract records with one simple drag-and-drop or upload step. Leah automatically detects and analyzes the contract file, creating records without any manual intervention. This saves legal teams time, while reducing errors.
- Leah Insights: Provides vendor and customer visual insights using predictive analytics to accelerate negotiations based on historic data with customers and suppliers into previously negotiated contracts dashboard.
- Leah Assist: Guides customers to review, redline and negotiate contracts based on historic data analytics, precedents, playbooks, and use of generative AI technology to predict the best terms and conditions, saving legal teams time in negotiating new and recurring contracts.
- Ask Leah: Helps users search through thousands of contracts for insights or simply interact with a single contract via an interactive chatbot powered by ChatGPT with real-time queries in relation to the contracts with smart prompts and guidance. Instead of reading the entire contract, users can just “Ask Leah.”
- Leah Deepsights: Elevates critical contract data across all major business functions and drives improvements and better ROI across the enterprise contracting function based on benchmarking metrics from the cohort of customers across the ContractPodAi platform.
“We’re bringing Leah to market as a way to ‘demystify’ AI for legal teams, making them aware of how this technology works with, and for, them,” said Atena Reyhani, Chief Product Officer at ContractPodAi. “Leah provides a very user-friendly experience when interacting with our AI, leading to increased accessibility. This improves legal teams’ day-to-day tasks, while enabling them to realize, and unlock the true value of this technology.”
ContractPodAi’s customers will be guided by Leah, as she helps them unlock the potential of AI. Find out more on how Leah, powered by ContractPodAi’s proprietary AI, OpenAI’s ChatGPT Generative AI technology, Microsoft Azure, and IBM Watson can help here.
About ContractPodAi:
Well-established as a leader in end-to-end contract lifecycle management, ContractPodAi harnesses AI for leading corporations around the world. Now, the platform’s robust, intuitive, and easy-to-use capabilities have been extended to handle the entire, end-to-end legal lifecycle – any use-case, any document type, any scenario. ContractPodAi’s ‘One Legal Platform’ makes it easier for legal teams to expedite issues and author and review contracts so they can add more strategic value and proactively protect the business.
ContractPodAi Cloud amplifies your business’s readiness through our partnerships with complementary technology providers including IBM, Microsoft, DocuSign and Salesforce. ContractPodAi® is headquartered in London and has global offices in New York, Glasgow, Chicago, Sydney, Mumbai, and Toronto.
Learn more about ContractPodAi at: https://contractpodai.com/
Contacts
Maggie Crouch
Walker Sands, for ContractPodAi
contractpodai@walkersands.com
