ContractIQ

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Simplify contract drafting with AI-powered efficiency.

How ContractIQ can help you:

Significantly reduces the time spent on contract drafting.
Provides a wide range of contract templates to fit various needs.
Ensures all critical details are included with a guided input process.
Allows for easy review and tweaking before final export.

Why choose ContractIQ: Key features

Effortless contract creation in three simple steps.
Time-saving benefits, reducing contract drafting time by up to 10X.
Highly praised by over 5,000 users for its efficiency and precision.
Offers a free Standard plan with an option for unlimited contracts on the Pro plan.

Who should choose ContractIQ:

Businesses and consultants requiring frequent contract creation.
Legal professionals seeking to streamline their workflow.
Anyone looking to save time and improve the reliability of their contract drafting process.

About ContractIQ

Website

https://www.contractiq.ai

Release Date

March 2024

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Lawyer Desk Unveils AI-Powered "LawBook" Mobile App: The Ultimate Educational Tool for Law Students

LawyerDesk.ai, a trailblazer in AI legal technology, proudly announces the launch of "Law Book", an advanced mobile app designed to redefine legal education for law students across India. This cutting-edge app leverages artificial intelligence to provide an unparalleled learning experience, equipping students with the knowledge and skills they need to excel in their legal careers."LawBook" is a comprehensive educational platform brimming with features that cater to the diverse needs of law students. It combines traditional legal resources with innovative AI-driven tools to create a dynamic and interactive learning environment.Key Features of LawBook:Case Generator: Generate case scenarios based on various types of law, allowing students to practice and hone their legal reasoning and argumentation skills.Legal Research: Access a vast database of legal texts, case laws, statutes, and journals, all easily searchable and regularly updated.Legal Drafting: Tools to assist in the creation of legal documents, helping students learn the intricacies of legal writing and formatting.Learning Tools: Engage with mind maps, notes, flashcards, and AI lawyer personas to enhance understanding and retention of legal concepts.Moot Court Simulation: Experience simulated moot court environments, complete with realistic case scenarios and role-playing, to practice courtroom skills.User-Friendly Interface: An intuitive design that ensures easy navigation and accessibility to all features."We are thrilled to introduce "Law Book", an app that embodies our commitment to innovation in legal education," said ANUSHITA KARUNAKARAM, CEO of LawyerDesk.ai. "By integrating advanced AI capabilities with comprehensive legal resources, Law Book provides a holistic learning experience that prepares law students for the complexities of the legal profession. Our goal is to bridge the gap between theoretical knowledge and practical application, ensuring our users are well-equipped to succeed."The development of Law Book involved extensive collaboration with legal educators and professionals to ensure the app's content is both accurate and relevant. This collaborative effort guarantees that Law Book not only meets academic standards but also aligns with real-world legal practices.About Lawyer Desk: Lawyer Desk is a pioneering legal tech company based in India, dedicated to revolutionizing the legal industry through advanced technology. With a mission to make legal resources accessible and efficient for all, LawyerDesk.ai offers a suite of applications including "Advocase" for legal professionals, "LawBook" for law students, "Prajalok" for the public and "CaseWork" for companies. By integrating state-of-the-art AI with expert insights, Lawyer Desk is setting new benchmarks in legal technology.

CXOToday.com

Tue, 20 Aug, 4:07 PM UTC

Lexlegis AI launches LLM platform to help with legal research, analysis

Legal technology startup Lexlegis AI on Thursday announced the launch of a large language model-based platform that can help make research, analysis and drafting by legal practitioners more efficient by reducing the intensive manual hours that generally go into it. A generative AI querying model called Ask has gone live. Interact, which will help summarise information, and Draft, which will help draft legal documents, are in beta testing and work-in-progress stages, respectively, and will be live this fiscal, according to Lexlegis CEO Saakar Yadav. Yadav said that India's legal backlog, which exceeds 44.9 million cases, underscores the urgent need for innovative solutions to tackle this crisis. "Lexlegis.ai is designed to empower judiciary and legal professionals with AI-driven tools to simplify and sharpen research," Yadav said. The company, which was founded earlier this year, is chalking out a pricing and subscription model and plans to monetise the platform by October this year. Currently, 70 large law firms are making use of the platform while there are about 800 inquiries. The platform caters to law firms, courts and tribunals, government departments, professionals and individuals, SMEs and MSMEs, and corporate legal departments. Querying on direct tax laws is available now, while other categories will be launched in the coming weeks and months. The company aims to make the platform available in an app format for individual professionals by mid-2025, when it plans to integrate multilingual capabilities and also enter the US market. "We are scaling up aggressively," said Yadav. "The legal community uses AI extensively and has a lot of awareness about it. It's about providing them what they need and they can see how our platform is different." Yadav explained that while models like ChatGPT which are trained on content from across the web are prone to hallucinations and hence face a trust deficit, Lexlegis has trained its model on 10 million, authentic Indian legal documents, or 20 billion tokens worth of data. The model answers based on this data only and hallucination is minimised. Further, the model provides references for answers. "I would say it is 80-90% accurate. It will get even more accurate over time," Yadav said, adding the company is not competing with ChatGPT. About $10 million has gone into building the LLM and the database it was trained on, Yadav said. Globally, similar startups such as Harvey and Casetext have been creating AI for use in the legal field. ChatGPT-maker OpenAI and Google Ventures have invested in Harvey, while Casetext has been acquired by Thomson Reuters. Lexlegis has completed its pre series funding and is in discussions for series A, Yadav said. "Later in 2025, we would have to raise more funds for more modules and to expand to more geographies," he added.

Economic Times

Thu, 22 Aug, 12:01 PM UTC

Lexlegis.ai Launches Legal AI Platform to Empower Tax and Legal professionals

Transforming Legal Research with AI-Driven Solutions AI-powered legal research assistant reduces weeks of research to secondsPowered by a state-of-the-art LLM trained on in-house legal dataset with over 10 million documentsNow live with Ask - an AI paralegal assistant providing instant answers to legal researchSoon launching Interact - AI-powered document analysis, and Draft - AI-driven legal drafting assistantDesigned to eliminate hallucinations in AI responses by limiting to a trained modelEnsures transparency and clarity in AI's reasoning, including opposing views with Explainable AI (XAI)Plans to launch AI solutions globally by mid-2025 Lexlegis.ai, a pioneering legal tech solutions enterprise, today announced the launch of India's first large language model (LLM) specifically designed for the legal-tech sector. This groundbreaking AI tool is set to revolutionize legal research by delivering unprecedented accuracy and reliability. The platform assists legal practitioners by providing issue-specific judgments and precise citations, significantly reducing the manual effort involved in compiling extensive case documents for Indian courts. With India's judicial system currently grappling with over 44.9 million pending cases, Lexlegis.ai offers a transformative solution. The platform leverages advanced algorithms to accelerate legal research, transforming weeks of work into mere seconds. Built on a vast repository of cases across diverse legal domains, Lexlegis.ai empowers advocates, lawyers, and legal teams to navigate the complexities of the legal landscape more efficiently. The AI's capabilities extend beyond research; it can scan and analyze legal documents, identify relevant information, and flag inconsistencies, drastically reducing the time spent on manual reviews. Lexlegis.ai is a versatile tool designed for use by law firms, government departments, corporate legal teams, SMEs, and independent legal professionals. Technology as a Solution to India's Legal Crisis The overwhelming backlog of cases in India's courts has rendered traditional legal research methods insufficient. Lexlegis.ai's 'Ask' feature, a core component of the platform, delivers precise legal answers in seconds, drastically cutting down research time. This AI-powered tool is poised to enhance the efficiency of advocates, freeing up time for more critical tasks and addressing the inefficiencies that plague the legal system. Speaking on the launch, Saakar S. Yadav, Founder and CEO of Lexlegis.ai, remarked, "India's legal backlog exceeds 44.9 million cases, underscoring the urgent need for innovative solutions to tackle this crisis. Lexlegis.ai is designed to empower judiciary and legal professionals with AI-driven tools that simplify and sharpen research. Our forthcoming features, Interact and Draft, will further streamline legal processes, enabling professionals to save time and improve accuracy. We intend to introduce more workflows and processes to practice management platform not only in India but even in other countries in near future." Endorsement of AI Integration in Legal Processes Highlighting the critical role of AI in the legal sector, Suhail Nathani, Managing Partner, Economic Laws Practice (ELP), stated, "Lexlegis has set the ball rolling by delivering a high-quality AI tool in a complex and enormous area of information. They are a pioneer in what is undoubtedly the future of the knowledge industry. ELP is proud to be part of this trail blazing journey with them." About Lexlegis.ai Lexlegis.ai is a cutting-edge legal technology startup based in India, dedicated to transforming the legal landscape through AI-driven solutions. Co-founded by the late Shri S. C. Yadav, a retired Chief Commissioner of Income-tax, and his son, Mr. Saakar S. Yadav, Lexlegis.ai aims to expedite legal research and enhance access to justice. Leveraging a Large Language Model (LLM) trained on over 10 million Indian legal documents, Lexlegis.ai delivers concise, accurate, and meaningful answers to legal queries in seconds, complete with supporting sources and citations. Lexlegis.ai has a seasoned leadership team, including CEO Mr. Saakar S. Yadav, CTO Mr. Vishrut Shrivastava, and COO Mr. Praveen Sood, Lexlegis.ai is at the forefront of legal innovation, driving efficiency and accuracy in legal processes across India.

CXOToday.com

Sun, 25 Aug, 10:01 AM UTC

How GenAI-Led Contract Intelligence Is Redefining Business Relationships

GenAI can effectively be used in contract management by centralising contracts, identifying contract-centric use cases and realising the intent Earlier this year, the US investor guru Warren Buffett made headlines by describing artificial intelligence as a genie that "scares the hell out of me." The Berkshire Hathaway chairman and CEO has long been known for his extraordinary foresight, something of a genie himself because of his ability to predict lucrative investment opportunities. His words carry weight, and when he expresses concern, people listen. In this instance, while Buffett's caution is understandable, the potential of AI may be greater than the risks. Although disruptive technology is exciting, it can also raise concerns, particularly when even the AI scientists who developed it cannot fully explain the internal workings of its underlying mechanisms, such as transformers in GenAI. It is difficult to explain but the outcomes it delivers often feel nothing short of miraculous. I liken GenAI to the dot-com era of the late 1990s and early 2000s, a time when everyone wanted to tap into first-of-a-kind technology in the hopes of discovering new areas for innovation. Fast-forward two decades, and the power of the internet has been more fully realised. It has improved the way people live and how businesses run. I don't believe GenAI will take two decades to be realised fully - the world is changing as we speak. GenAI is just the beginning, marking a step toward artificial general intelligence (AGI), which can perform any intellectual task that can be accomplished by humans. Today's GenAI already enables AI tools to think logically and creatively like humans. This convergence of human-like reasoning with machines' vast computational power and data processing abilities is set to fundamentally transform business processes. For example, AI can analyse vast amounts of data at speeds far beyond human capability, identifying patterns and deriving insights that might otherwise go unnoticed. In contract management, this means AI can quickly review and analyse large volumes of commercial agreements to inform better decision-making and increase the pace of business. Contracts form the backbone of global commerce, defining the rules of business for large and small companies everywhere. It is a single source of truth that a business has with its suppliers, partners, and customers, defining compliance, expected obligations, and the intent of the relationship. This makes contract data one of the most valuable untapped assets in the enterprise. GenAI's ability to think creatively and suggest actions within contracts has the potential to elevate commerce by optimising business relationships. This technology not only streamlines time-consuming and error-prone manual processes but also ensures the intent behind business relationships is fully realised. The benefits are twofold: enterprises can save money by reducing costs while also preventing revenue leakage, increasing revenue, reducing risk, and enhancing compliance. To effectively implement GenAI in contract management processes, businesses can follow these steps: When executed correctly, GenAI can substantially enhance business processes and deliver tangible value. It can reduce complexity and friction - the two deterrents to enterprise agility, allowing businesses to operate more efficiently and effectively. By transforming contract-driven processes, enterprises can optimise business outcomes around revenue, savings, and risk. There has never been a more exciting time in business than now. In 20 years, we'll reflect and marvel at how little we knew about AI in its early days and how dramatically it has changed our lives for the better. However, to harness AI's full potential, we must approach it responsibly, starting with a clear understanding of its value within our organisations, its power and its limitations. By embracing GenAI, businesses can not only navigate the complexities of modern commerce in today's ever-changing economic environment but also set the stage for future success in an increasingly AI-driven world. Get this right, and Warren Buffett will realise he had nothing to fear.

Inc42 Media

Sun, 25 Aug, 2:00 PM UTC

How Entrepreneurs Automate Time-Consuming Tasks With the Latest AI

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. When you're building your business or startup from scratch, the beginning stages can be overwhelming. You're expected to be a founder, marketer, analyst, and so many other roles all in one. But what if there was a way to free up some time and automate rote tasks? According to the MIT Sloan School of Management, generative AI can help entrepreneurs with time-consuming responsibilities such as writing emails or coding their business's website. If you'd like to automate daily tasks that you'd have to perform yourself or outsource to a team, 1minAI's collection of AI models like ChatGPT, Gemini, and Midjourney is available for $39.99 (reg. $234). The beginning stages of any business require all hands on deck, so let AI help. Start by selecting your AI-powered assistance from platforms like Leonardo.AI, Cohere, Claude 3 Opus, Llama 2 and 3, and more. If you need advice on planning out your business's yearly or quarterly goals or need assistance with applying SEO practices to your work, these AI chatbots offer smart and interactive answers to your questions. Entrepreneurs can enhance their business's footprint with a robust social media presence, and 1minAI's impressive AI writing tools may be beneficial. Rather than hiring an entire social media team -- which can be costly -- you can generate professional-sounding comments for LinkedIn, Facebook, and other social media platforms. You can also have them produce complete, clean blogs for your business' website or rewrite copy. If you're still in the brand development process, this platform additionally offers photo creation and editing tools. Get unique logo ideas for your company, images for projects, or help with editing photos so they match your business's branding or social media feed. 1minAI is designed with features that are helpful for any entrepreneur and are always improving with weekly updates. It's no surprise G2 reviewed, "1min.ai rocks with its all-in-one AI toolkit, making life easier for creative tasks. It's super user-friendly, even for tech novices. Plus, you can tweak AI models to get better results."

Entrepreneur

Mon, 26 Aug, 2:01 PM UTC

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