Corporate Counsel’s Employment
of LegalTech 2020

RESEARCH REPORT

What’s Down the Road for AI-based Contract Management and Corporate Legal Hazards?

Over several months, ContractPodAi interviewed 50 large corporate legal departments – managing more than 10,000 contracts combined – on their current organizational practices. We asked them about their overall technology use, their automation’s utility in contract risk and mitigation management, and their analysis of unstructured data, as well as their performance measurements of contact portfolios, etc. AI-Based Contract Management and Corporate Legal Hazards

Among other discoveries, we found that nearly 50% of all companies plan to adopt AI-based contract risk mitigation technology in the next 12 months. In fact, nearly 20% are already applying tools like contract management technology in order to gain competitive advantage.

ContractPodAi can help you to better understand the employment of technology by corporate counsel departments in 2020. This industry perspective delves into:

  • The current state of contract lifecycle management (CLM) – and whether technology can improve it
  • The reasons why the bounty of contract management technology is not fairly shared among corporate legal departments
  • The cardinal points of corporate counsels: centralized repository of contract data; contract risk mitigation and compliance; volume discounts and renewals; and timely contract delivery
  • The conditions that corporate counsels see on the horizon

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Streamlining CLM Processes

Learn how one of the world’s largest petrochemical groups digitized its legal function using ContractPod Ai.