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Generative AI (GAI) , like the popular ChatGPT tool, emulates human cognitive functions like learning, problem-solving, and decision-making. This shift is not just about saving time or cutting costs; it’s about enhancing the precision and effectiveness of legal services.
Firms that have invested in AI software, especially to manage their contracting documents, have certainly experienced an increase in productivity and efficiency in their contracting. It is achievable with the technology’s potential to identify contract types (even in multiple languages) based on pattern recognition.
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