P2P

50 early draft and the final, legally binding agreement. Likewise, AI might reference outdated contracts that no longer comply with regulatory standards, leading to incorrect legal interpretations. To avoid these pitfalls, enterprises must create rigorous data governance frameworks, ensuring only authoritative documents are available for AI interactions. STEP 3: ESTABLISH A PROCESS AROUND DATA REFINEMENT AND CURATION The following strategic steps will help establish a process to ensure that AI draws from validated content. For starters, establish processes to identify official or final versions of documents. For example, if a contract has been signed via DocuSign and returned, it can be marked as "final" and included in AI-accessible knowledge sets. The more this process can be automated – to ensure that valuable knowledge assets end up in a managed repository, such as the organization's document management system, rather than being orphaned on someone's OneDrive or as an attachment in their inbox – the better. This will reduce the likelihood of valuable knowledge slipping through the cracks and ensure that AI references approved content, rather than multiple iterations of the same document. Also, policies evolve, contracts expire, and regulatory requirements change. Legal teams need a dedicated legal data team that periodically reviews AI-accessible datasets and removes obsolete content. Depending on the size of the organization, this can be one person or an entire team; what is important is that someone is responsible for defining what "good" content looks like and is relevant, and then ensuring that the content AI is pulling from matches that definition. The cadence of the review cycle will vary. It could be yearly, biannual, or some other milestone; again, what matters is that there is a defined cadence. Creating and maintaining the IA is an ongoing process, not a one-and-done task. Of course, AI will become smarter and, in some cases, be able to maintain itself, understanding the finality of something and knowing at that point what it should forget. Or to understand the lifecycle and seek assistance with that review, to be informed about what it should retain. We are not there yet. AI will become smarter and, in some cases, be able to maintain itself, understanding the finality of something and knowing at that point what it should forget.

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