The CLOC Global Institute, the conference of legal operations professionals now underway now in Las Vegas, has become a leading venue for legal technology companies to announce product news — particularly when that news relates to products that serve corporate legal departments and legal ops. This year has brought a slew of announcements of new products, enhanced products, and even new companies. And, guess what, the dominant theme among them is generative AI.
Here is a recap of news so far from CLOC.
First, see the CLOC-related news I’ve already published:
Now here are other announcements that have come out of CLOC:
Agiloft Partners with Mitratech
Agiloft, the contract lifecycle management (CLM) platform announced a new partnership with Mitratech, a global provider of legal, compliance, and HR software. Agiloft said that the partnership aims to simplify the increasingly complex tech stack legal departments face by providing a seamless connection between Mitratech’s TeamConnect and Agiloft’s CLM. “Integration of the two applications will provide legal operations and in-house legal users with greater efficiency, visibility, and control by automating workflows and improving data exchange across contracts and legal matters,” Agiloft said.
Casepoint Enhances Review of Chat Messages
The e-discovery company Casepoint has launched ChatViewer, an upgrade to its product that is designed to ease the review process for chat messages, including those from cell phone conversation apps and enterprise collaboration tools such as Slack and Microsoft Teams. With ChatViewer, users can view, search, sort, and manage chat data seamlessly, Casepoint said, “allowing them to slash review time and discovery-related costs.”
Casepoint ChatViewer presents chat data in a familiar, conversational format and offers additional filtering capabilities for added convenience, the company said. Within ChatViewer, users can filter a single document by chat participants or by date and time ranges.
ContractPodAI Offers Leah As Standalone AI Product
The CLM company ContractPodAI said that Leah, its previously announced GPT-4-powered “legal services hub,” is now available as a standalone product in addition to being a service within its CLM platform. “Part of the power of generative AI is its ability to help organizations scale to drive greater business outcomes and achieve competitive advantage,” the company said. “Now, Leah will support corporate legal teams and law firms for other legal matters beyond contracts.”
The product supports three modules, the company said:
- Leah Drafts, which uses trained legal models to support the user’s drafting style and precedents to draft a variety of legal documents including contracts, regulatory update notes, legal memos, case summaries, and presentations.
- Leah Reviews, designed to assist customers with understanding, analyzing and supporting complex queries across transactions, M&A, litigations, contracts, compliance, policy, and regulatory paperwork.
- Leah Extracts, which enables customers to extract essential legal data from any legal documentation with only three clicks.
Here is a link to a video demo.
Evisort Adds Generative AI for Drafting and Redlining
The CLM platform Evisort announced announced the availability of enterprise-grade generative AI in its contract management platform to further accelerate contract drafting, redlining, and negotiating while mitigating risk. Evisort said the addition of generative AI to its platform augments the product’s existing proprietary AI to bring new capabilities that include:
- Automated Redlining that automatically suggests edits to contract language during negotiations, to bring agreements into compliance with an organization’s playbook.
- Clause Creator that instantly drafts new contract clauses from scratch, for easy insertion into in-flight agreements or to populate the organization’s library of approved clauses.
“With generative AI tools embedded in Evisort’s document editor, legal teams can work securely and collaboratively in one platform as they reap the benefits of automated contract preparation,” the company said.
LinkSquares Introduces Enterprise Legal Management
The CLM company LinkSquares is expanding its offerings with the introduction of the LinkSquares Cloud, an enterprise legal management platform. The platform combines the company’s existing end-to-end contract management and analysis capabilities with a new product, LinkSquares Prioritize, designed to centralize a legal department’s work in one place, enabling teams to collaborate with additional business departments and create, manage, track, and report on the tasks and initiatives requiring legal strategy. The company said that it will begin offering early access to Prioritize on June 30. Those interested can join the waitlist here.
LiquidText Incorporates ChatGPT
LiquidText, a unique note-taking and document-analysis software product, this week announced the beta incorporation of ChatGPT into its iPad version. I plan to write about this in more depth, but the nutshell version is that the integration allows users to ask questions about any or all project documents and LiquidText uses ChatGPT to analyze the documents and provide an answer. It also allows users to type any sentence into their notes, and LiquidText then uses OpenAI’s semantic analysis tools to suggest a citation, and then links to the parts of the documents users were likely taking notes on.
I first wrote about LiquidText in 2017, describing it as an app “that may forever change how you read and annotate complex documents.”
Ontra Launches Contracts Platform for Private Markets
The contract automation company Ontra announced the launch of Ontra Synapse, an AI-driven contract negotiation and management platform for private markets. According to Ontra, capabilities of the product include:
- Assessing the complexity of an agreement to optimize negotiations for speed, cost, and outcomes.
- Surfacing relevant precedent to expedite negotiations and ensure consistency across contracts.
- Summarizing contracts and analyzing terms to deliver data-driven insights and reports.
Ontra says Synapse is now integrated into its Legal Operating System, a suite of SaaS applications that streamline fund formation, fund operation, and portfolio investment.
“Automating contract negotiations for private markets agreements has been notoriously difficult to do well,” the company said. “Given nuanced contract language, industry-specific processes, and risks associated with mistakes, firms can’t afford to embrace technology that gets it ‘mostly right.’ Ontra Synapse overcomes this challenge by combining the world’s leading repository of industry-specific contract data with an innovative combination of technology and human expertise.”
PERSUIT Announces AI-Powered Proposal Analyzer
PERSUIT a platform for sourcing and engaging outside law firms announced that it will soon leverage AI and ChatGPT with the launch of its Proposal Analyzer, a tool designed to summarize proposal responses from multiple firms and highlight strengths, weaknesses and key differences. This is the first in a series of planned enhancements using AI that will be rolled out throughout the year, the company said. “With AI layered into the law firm selection process, corporate legal teams will have the opportunity to evaluate and select law firm proposals with more precision and speed than ever before.”
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