Contract Analytics Can Enable Companies to Take Smart Risks

The contracting process is about taking smart risks and inspiring trust. Those factors will only grow more important as legal organizations embrace digital transformation. Artificial Intelligence (AI) solutions that get smarter over time, powered by massive amounts of data, can help lawyers earn that credibility and use information more thoughtfully and quickly. Lawyers using tools for contract analytics can embrace the "growth mindset" and better leverage their past experiences from prior deals and transactions to help their clients take smart risks in subsequent matters. Doing so will also help break down silos as legal and business teams can internally share data and lessons learned.