IntelAgree, a leading AI-powered contract lifecycle management (CLM) platform, is proud to announce the launch of Saige Assist: Markup, a groundbreaking feature that enables organizations to extract key contract data points within seconds, using only a name and description. This innovation eliminates the traditional reliance on extensive machine learning (ML) model training, offering a swift and efficient solution tailored to diverse industry needs.
Historically, implementing ML in contract management required significant time and resources to train models, often resulting in delays or models that couldn’t adapt well to new examples. Saige Assist: Markup transforms this landscape by allowing users to create custom attributes unique to their sector, streamlining implementation and ensuring precise data extraction.
“The introduction of Saige Assist: Markup signifies a pivotal shift in contract management,” said Michael Schacter, Director of Product Management at IntelAgree. “Organizations can now bypass the lengthy model training phase and immediately apply AI to extract critical data, tailored to their unique contractual requirements.”
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Tailored AI Solutions Across Industries
Traditional out-of-the-box AI models are often industry-agnostic, lacking the nuance to address specific contractual terms inherent to various sectors. Saige Assist: Markup addresses this gap by empowering users to:
- Define Custom Attributes: Users can specify attributes pertinent to their industry, ensuring AI identifies and extracts relevant data without extensive training.
- Streamline Implementation: By eliminating the need for prolonged model training, organizations can not only deploy AI capabilities swiftly but also refine them faster —simply by updating descriptions instead of collecting, labeling, and retraining on new examples.
- Enhance Accuracy: Customized attributes lead to more accurate data extraction, minimizing errors associated with generic AI models.
Expanding Capabilities with Saige Assist: Bulk Markup
In addition to Saige Assist: Markup, IntelAgree also introduced Saige Assist: Bulk Markup, enabling users to:
- Markup Attributes in Various Contract Types: Efficiently markup attributes for a variety of contract types like MSAs, NDAs, and supplier contracts, ensuring consistency and comprehensive data extraction.
- Reduce Manual Effort: Automate the markup process across multiple contracts, freeing up valuable resources for strategic tasks.
- Maintain Consistency: Ensure uniform application of attributes, enhancing data integrity and reliability.
Aligning with Industry Trends
The integration of AI in contract management is rapidly becoming a standard. Analysts predict that by 2027, 50% of procurement contract management will be AI-enabled, facilitating supplier contract negotiations through AI-driven contract risk analysis and editing tools. IntelAgree believes Saige Assist: Markup aligns with this trend, offering a solution that exceeds these expectations by providing immediate, tailored AI capabilities without the traditional training period.
Source: PRNewswire