Artificial intelligence is far from a magic bullet that will solve all of corporate legal’s challenges or take over most of their responsibilities. But for many companies, AI can play a key role in enabling them to provide more cost-effective services. And perhaps nowhere is this more possible currently than in the area of contract management.
But while there are legal departments who have streamlined their entire contracting work through AI, many departments are taking a slower approach, cognizant of the challenges inherent in larger AI implementations. Speaking at various sessions at Corporate Legal Operations Consortium’s (CLOC) recent annual institute in Las Vegas, legal operations professionals from Microsoft and Cisco shed light on their AI contract management pilots and why, right now, they’re just testing the waters.
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