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3
T
he time-consuming, inefficient
process of pre-execution contract
review is one area that is ripe
for artificial intelligence. In fact,
AI-assisted contract markup
is already disrupting the status quo by routinely
automating as much as 70% of human review time
for organizations that use it. Through ROI-proven
tactics and strategies, your legal department can
implement this technolo to reduce costs, improve
efficiency and save on the bottom line.
Legal operations and technolo experts
understand the pain and cost of traditional contract
review approaches. Global 2000 and Fortune 1000
companies spend $35 billion annually on high-
volume contract review. Of that amount, $26 billion
is spent on reviewing and marking up contract
language that is semantically similar enough that it
can be automated.
Furthermore, an estimated $7 billion is spent
on redundant work during the pre-execution
contract negotiation stage—work that's already
been done on similar contracts. This is not just
inefficient; it's bad business.
How AI is disrupting
legal contract review –
and why ROI matters
by Dan Broderick
