Product Deep Dive: Evisort’s Generative AI for Contracts
Generative AI is here — and Evisort is at the forefront of contract AI innovation yet again. Since its release in November 2022, ChatGPT has drawn the world’s attention to the exciting potential of large language models (LLMs) to revolutionize the generation of content. Now, Evisort users are gaining the benefits of LLMs to draft and edit contract clauses faster and more easily than ever.
Here’s what you should you know up front
First, Evisort’s use of generative AI complements our proven, proprietary enterprise-grade contract AI. Evisort’s AI has been trained on over 11 million contracts to analyze hundreds of contract types accurately at scale. We are leveraging generative AI exclusively for the unique, additive capabilities it provides for certain functions within our platform. More on that below.
Second, as in-house counsel and infosec professionals worldwide are wisely scrutinizing the data privacy implications of generative AI, you should know that Evisort leverages GPT via Microsoft Azure OpenAI Service. No contract data is used to train publicly-available AI models. No contract data is shared with publicly-available chatbots like ChatGPT. No additional sub-processors are added to our service delivery. Data is securely stored, encrypted at rest, logically isolated in compliance with Microsoft’s robust information security framework, and purged in a timely manner per clear data retention policies.
Third, while these generative AI capabilities are available to all Evisort users at no additional charge, you can also turn them off. Should you prefer not to enable these features for any reason, that is fully within your control.
What exactly can Evisort’s generative AI do for your contracts?
Here’s what is available today
From within the document editor, you can receive AI-suggested, redlined edits to existing clauses based on the guidance you enter. These suggestions can be easily inserted in the main document if you approve them. You can prompt edits by pasting in standard requirements from your playbook or any guidance you decide to enter in real time.
Automatic redlining helps make contract negotiation faster and smoother, saving contract reviewers time and effort while minimizing the practice of ripping and replacing entire clauses to bring an agreement into compliance.
Easily prompt Evisort to draft new contract language from scratch, making it easier than ever to negotiate agreements quickly. Give the basic guidance of what the clause needs to deliver, and you will receive structured language to approve and insert. New clauses can also be saved in your clause library for future use.
Here’s what is coming next
As excited as the community is about these capabilities, we have only just scratched the surface of what generative AI can deliver for Evisort users. As always, our Evisort AI Labs and product teams are continually pushing the boundaries of what is possible, and we are excited to share a peek behind the scenes of our upcoming work.
What if Evisort could streamline clause library creation and maintenance, making it easy for your organization to log preferred and fallback contract language and keep it current over time? Evisort’s contract AI will identify conceptually-related clauses to which your organization has commonly agreed and surface them to populate your clause library, with your approval. You will stay in control of your contracting playbook, with AI taking the busy work out to help you develop and update the guidance on an ongoing basis.
With established contract preferences in your clause library, Evisort’s generative AI will be able to automatically suggest edits to in-flight agreements with no manual prompting by the user. These and other enhancements in the coming months will help Evisort customers reap the fullest benefits of AI-powered contract automation, while maintaining total control over their work.
We are excited to be on this journey with our clients, and we are committed to balancing the cutting edge of AI with responsible and secure practices.
To learn more about Automatic Redlining and Clause Creator, join our upcoming live demo on May 25th or contact your Evisort Customer Success Manager or Account Rep today.
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