New feature both speeds up the contract review process while also improving quality and accuracy
London, UK; New York, USA, 1st February 2024 - Robin AI, the AI-powered legal copilot, today announces the launch of a new capability within its copilot to check a contract’s defined terms in seconds, saving legal teams hundreds of hours going through contracts line-by-line. This feature, which also helps reduce the business risks from incorrectly defined terms, is now available to users of the Robin AI contract copilot at no additional cost.
Defined terms are a critical component of contracts, ensuring that all parties attach the same meaning to words or phrases. They can normally be found at the beginning of a contract and will then be capitalised through the rest of the document. Making mistakes with defined terms can create significant business risk, potentially making a contract unenforceable.
Checking defined terms is an important but tedious and time consuming process for lawyers. They must go line-by-line through a contract (which could run to hundreds of pages) to make sure all the defined terms are correctly capitalised. They also need to make sure every use of the defined term matches the definition at the start of the contract.
Robin AI’s contract copilot can now take this on, saving even more time for lawyers while also helping to ensure greater accuracy and consistency in their reviews. It will scan a contract and flag all the issues it finds with defined terms and make suggested changes. Lawyers can then easily navigate through each flagged issue and either accept or reject the suggested edit. If they need to check a defined term they simply click a button which will automatically take them to where it has been defined in the contract.
“This is exactly the kind of important but tedious legal work that our AI copilot can help with,” said Richard Robinson, CEO and co-founder of Robin AI. “We want to make lawyers’ lives easier and free up their time for more strategic and higher value work. This new capability is a great example of how we can continue to improve our product to improve the contract process.”
Robin AI’s contract copilot is available as a Microsoft Word Add-in, bringing its capabilities to the tool that most lawyers use for contract work. It leverages the latest generative AI technologies that have been trained to understand contracts to significantly speed up and improve the drafting, reviewing and querying of contracts.
About Robin AI
Robin AI serves a diverse range of customers from large multinational corporations to SMEs and scale-ups. For example, our free self-serve software helps SMEs process contracts faster and at significantly lower cost - and bigger businesses can make use of more advanced AI features to edit and query high volume contracts efficiently, alongside specialist support from our 45 in-house legal professionals.
Founded in 2019 by Richard Robinson, a former lawyer at Clifford Chance, and James Clough, a former machine learning research scientist at KCL and Imperial College, Robin AI has a 100+ team of full-time employees, including legal professionals and software engineers. The Robin AI team is based in London and New York but operates globally. 75% of its revenue is derived from the US.