Artificial intelligence (AI) has the potential to revolutionize contract management by automating many of the routine tasks involved in contract management, such as contract drafting, review, and analysis. Some ways that AI can impact contract management include:
While AI has the potential to improve contract management processes, organizations should be aware of the limitations and potential biases of AI and ensure that humans are involved in critical decision-making processes. By leveraging the benefits of AI in contract management while mitigating potential risks, organizations can improve their contract management capabilities and achieve better outcomes from their contracts.