How is GPT-4 at Contract Analysis?

Where Generative AI Is Good in Contract Data Extraction … And Where It Isn’t TL;DR: GPT-4 is impressive overall, but-on contract review tasks-it’s inconsistent and makes mistakes; probably not yet ready as a standalone approach if predictable accuracy matters. Back in 2011, when we started Kira Systems, other contract review software companies were using rules- or comparison-based approaches to finding data in contracts. We used supervised machine learning to find information in contracts, and did well against our competitors.

Introducing a new FREE version of Zuva contracts AI

At Zuva, we think contract data is too important to be bottled up in one system, or be forced into one particular set of workflows. Almost any business team can benefit from being able to access and review contract data. We’ve been building contracts AI since 2011. Our tech has been used by the world’s most demanding contract reviewers and for many of the world’s biggest companies. At Zuva, our focus has not just been to free this technology from any one system, but also make it dead simple for business people to use AI to extract and make use of contract data.

Severance Agreements

The National Labor Relations Board (NLRB) enforces labor laws in the United States, specifically those related to collective bargaining and unfair labor practices. On February 21, 2023, the NLRB issued a ruling in McLaren Macomb, 372 NLRB No. 58 (2023) about, among other things, a Severance Agreement that contained confidentiality and non-disparagement provisions. The provisions at issue prohibited employees from disclosing the terms of the Severance Agreement to most third parties, and broadly restricted employees from making statements about the employer.

Using Zuva AI Trainer To Build Custom AI Fields for ETF Documents

Do you understand the information contained in your ETF documents? An ETF (Exchange-Traded Fund) is a type of investment product that allows buyers to invest in diversified securities at once, for a single price. They are traded on stock exchanges and can be bought and sold during a trading day, in a similar manner to stocks. This allows an individual to participate in the gains and losses of the underlying securities held within the ETF.

Does Contract Management Software Have Product/Market Fit?

Recently, legaltech commentator Zach Abramowitz posed a provocative question: “Has CLM reached product market fit?” Product/market fit is, roughly, whether a product meets strong market demand, but the definition is pretty squishy and inexact1. Since the definition of product/market fit (aka “PMF”) is squishy, Abramowitz considers a bunch of indicators. “how total number of users would increase if marketing were to slow down. Is the number of users growing organically or is traction simply a product of marketing?

How Record-High Inflation Rates Could Be Impacting Your Company

Are your contracts doing enough to protect your company from unforeseen circumstances like inflation? In January 2022 the U.S. inflation rate climbed to its highest level in 40 years1, with prices rising by 7.5% from a year ago. It has had a significant impact on many, including the companies (both buyers and vendors) that have been trying to survive the past two years of the COVID-19 pandemic. Inflation brings risk and uncertainty along with it, and it might be doing more harm to your business than you’re aware of.

Buy or Build - A CEO's Guide on How to Implement Contract Analysis AI in Your App

Tl;dr: Building contract AI yourself is costly. More problematically, it’s hard to get the tech right. You risk spending a significant amount of time and effort and still ending up with a solution (that you have to maintain) which isn’t as good as what competitors have through licensing tech. As the leader of a software vendor, you (and your teams) are constantly making buy/build decisions. I’ve been there. Over a decade, I was CEO of Kira Systems as we grew from two people to over 200, building a dominant position in our main market.

How it Feels to Have Google (Contract DocAI) as a Competitor

Over the last stretch, Google has been getting lots of attention for their Contract DocAI (a/k/a Google Contract Document AI) product. Since Zuva’s DocAI product also enables software developers to embed pre-built contract analysis artificial intelligence into their applications via an API, I’ve been asked how I feel about having Google Contract DocAI as a competitor. Here’s a legaltech friend’s note: Was just thinking about you this week while investigating Google’s new DocAI tool Ironclad is using.