Also known as Ironclad CAI, the product allows teams across the organization to generate complex contract analysis and data visualizations using an AI-powered chat interface
Ironclad, the leading digital contracting platform for modern legal teams, announced the beta launch of Ironclad Contract AI (CAI), a first-of-its-kind product that allows users to complete complex contract analysis across their contract database through an easy-to-use chat interface. The product introduces to the market the use of AI agents to handle complex multi-step analyses by breaking down tasks into subtasks, completing those subtasks, and then evaluating the results to inform the next set of tasks, and is the only legal product that allows users to see the exact steps it took to come to a certain conclusion.
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“Ironclad Contract AI is a quantum leap for contracts,” said Ironclad CEO and co-founder Jason Boehmig. “The most legal chatbots have been able to do is return a raw list of results, which still require in-depth analysis by a lawyer. CAI is able to comb through a corpus of contracts and actually do the reasoning required to answer almost any contract-related question—showing you the steps it took to reach that conclusion—and handing that analysis back to your legal team. Where most generative AI is a black box, CAI is an open book.”
Ironclad CAI helps teams in any organization locate and analyze contracts faster by simply describing the contracts needed or asking questions—without needing filters, advanced keyword logic, or even training. Fully integrated with Ironclad’s full stack analytics platform, Insights, CAI generates charts to visualize data for relevant questions. Users are granted almost u******** flexibility in the types of questions they can ask, for example:
- “I feel like my workload is bigger than normal. Have I been working on more contract workflows recently?”
- “What contracts are my sales team on track to close this quarter?”
- “Have we ever agreed to u******** liability?”
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“Contract analysts can spend months reading and analyzing contracts. It’s really important work, but also incredibly time consuming,” said Ironclad co-founder and Chief Architect, Cai GoGwilt. “CAI can handle very standard questions, like identifying the total value of contracts in a certain jurisdiction, but can also answer the tough, more creative contracting questions in a matter of minutes—in many cases providing answers you may have thought were not possible. For instance, our team asked CAI to justify a pay raise—and it was able to not only comprehend the question, but deliver a compelling argument based on contract turnaround times, TCV metrics, number of contract terms, and more.”
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