Practical guide to artificial intelligence and contract review

Artificial intelligence and the use of big data techniques for the analysis, understanding, reviewing and drafting of contracts is one of the most popular topics today. The authors of this chapter, founders of a startup in this space, are exploring applications of today’s technology to various practical use-cases in the business world. This chapter analyzes possible reasons why with so many companies in the market only very few have deployed their products with actual customers. Additionally, an overview of the evolution of natural language processing is discussed in the context of contract intelligence and its practical applications.