Artificial Intelligence can Improve Contract Intelligence, Reduces Legal Risks and Dispute Costs
Article from: TDM 6 (2014), in Dispute Resolution from a Corporate Perspective
Introduction
Companies are facing increasing financial risk due to their decreasing ability to manage the "big data" associated with complex contracts. Specifically, large complex contracts are inherently opaque and difficult to interpret. Large contracts never exist alone but are interconnected with hundreds if not thousands of related contracts that have a material collective influence on the overall risk picture. The average Fortune 1000 corporation has between 20,000 and 40,000 agreements or contracts governing their everyday activities. Information related to a corporation's large contract ...