How to Responsibly Use AI for Your Business Functions
Working in a legal space doesn’t only mean obeying official laws on the books. It also means upholding ethical standards set by your organization, legal agencies, and society.
The rise of AI in the business world has called into question the ethics of using this technology in relation to professional conduct, data privacy, and more. This may cause forward-thinking leaders to be hesitant about implementing AI-powered solutions, even when they recognize the benefits of these programs, such as enhanced risk reduction, deal acceleration, and more comprehensive compliance programs.
So how are legal professionals expected to balance the need for the ethical use of AI with the desire to leverage this technology for better contract lifecycle management and business functions? It all comes down to understanding your solutions and how you plan to use them.
Boost Your AI Education
The specifics of AI can be a bit daunting. As the saying goes, we all fear what we do not understand, and a lack of familiarity with the inner workings of AI tends to play a role in late adoption.
As your organization considers the ways it can leverage AI for improved productivity and increased functionality, take measures to strengthen your grasp of the technology. Get familiar with the common terms of AI and the role they play in developing specific programs.
Certain components, such as bias and how it impacts your specific use of the product, will likely be factors that your team considers when evaluating how a program is built with ethics in mind.
Ask the Right Questions
Every AI program is developed differently, with unique parameters surrounding the collection, use, and storage of data. In order to ensure a prospective solution your team is looking to implement aligns with your organization's ethics, it’s vital to ask the proper questions.
Gather as much information as you can about how your provider approaches:
- Data input and output
- Data retention and deletion
- Security and data processing
- Use of generative AI
Knowing the details behind these policies can ensure you catch any red flags early on and protect your business as you mitigate risk.
This ensures everyone is aware of the parameters of these programs and establishes transparency across teams. Not only can this help avoid any questions of ethics down the line, but you may find that counterparties would like to take advantage of these programs for their own business functions, leading to even easier and faster deals in the future.
Keep Employees Involved
While artificial intelligence offers a host of benefits for legal professionals, particularly in regard to contract management, it is not the end-all-be-all for contracting. Even providers of world-class artificial intelligence programs still recommend human supervision to ensure the AI models and machine learning capabilities are working as intended and functioning in line with your organization’s unique ethical standards.
As you implement AI-powered contract intelligence into your business, ensure employees still act as a final set of eyes.
Ethically-Trained AI for Contract Management
Evisort is committed to practicing responsible AI in every aspect of our development and scaling processes, including our integration of generative AI. We recognize the importance of ensuring security, transparency, and education to build trustworthy AI systems.
Our product teams invest in building user-friendly interfaces that present the AI-generated results in an intuitive manner, and we conduct regular audits and evaluations to assess the performance and interpretability of our AI algorithms.
By practicing explainable AI, we aim to foster transparency, enable users to make informed decisions, and ultimately build a responsible and trustworthy relationship with our customers.
Let us help you create, collaborate, manage, analyze, and report on your contracts with AI-powered contract management.
Schedule a demo with our team to learn how to securely and ethically leverage AI for your contracts today.
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