Ahead of the Corporate Counsel and Compliance Exchange taking place in April, the editorial team alongside the Artificial Lawyer recently caught up with Tish Clyde, VP Global Head of Labour & Employment Legal, at Nokia. In a short interview we covered areas including automation, AI, and the need for efficiency inside in-house teams. Tish’s answers are clear proof that a growing number of senior in-house lawyers are already making use of this type of technology.

How AI impacts your career as a lawyer depends upon your ability and the resources that you have available to adapt, on how you will be able to handle the massive changes that technology is bringing to the law.  Technology does of course create new jobs, new opportunities, and we are seeing incredible opportunities in legal technology right now with vastly more in the future.

Now that we have looked into the power of Contract Analytics as well as the features that we need to make it truly deliver upon the promise of content intelligence, what can we do with it?  We should probably start with the most critical pain points for General Counsel, Procurement and business unit leaders:

There are measurable direct and indirect benefits associated with the application of contract analytics to financial processes such as procure to pay and order to cash.  There are specific areas where finance organizations stand to achieve cost efficiencies and realize incremental profits.

Now that we have covered the value of contract analytics, and before we get into the specific use cases, it might be useful to take a closer look at the capabilities needed to leverage the power of content intelligence.

In this blog series our guest contributor Michael Simon will share his perspectives on the challenges faced by organizations in surfacing business critical entities, attributes and terms within contracts as well suggest solutions that will streamline your obligations analysis and portfolio risk management processes.

Discover what lies ahead for General Counsels and Chief Compliance Officers in 2019 from legal operations, digitalisation, ethics and enhanced efficency.