In another life, I reviewed nondisclosure agreements (NDAs) and contracts to ensure the company I worked for knew what it was agreeing to. Back then, this AI-powered NDA review tool would have been a welcomed help. When pitted against 20 able lawyers, this AI had a 94 percent accuracy rate at identifying and labelling different desired elements in NDAs, and the lawyers were accurate on average 85 percent of the time. The decided advantage in this AI’s favor, though, is that it took 26 seconds to complete the task while it took the lawyers between 51 minutes to 2.5 hours.
What are the implications? This tool will augment the lives of lawyers and business workers, saving them time, reducing their job boredom, and allowing them to focus on other urgent tasks.
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