While artificial intelligence is creeping into the facets of many industries, a surprising number of corporate legal departments have yet to embrace AI as a tool to analyze and manage contract data, according to a study released on Wednesday.
Of the 50 large and primarily U.S.-based corporate legal departments in the survey, 62% said they still use Excel, SharePoint or email to manually sift through contract data, an onerous process that likely explains why only 56% of general counsel offices analyze contract performance.
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