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We slow AI down so you can speed up

Our mission is to make 1,000,000 people AI Literate

Today’s Letter:

The Future Of Contracts(4 min)

The Big Picture:

• Luminance's Autopilot autonomously negotiated a non-disclosure agreement

• Law firm Allen & Overy, in partnership with Microsoft and Harvey, has developed ContractMatrix, a “cutting-edge contract management platform that uses generative AI to review, draft, and manage contracts” (Allen & Overy).

  • ASML and Philips have apparently utilized this tool to work through the first ever fully AI developed contract.

Why It Matters:

• Industry Transformation: These advancements indicate a broader trend of digital transformation within the legal industry, suggesting a future where AI plays a central role in day to day legal practice

• Strategic Firm Advantage: The incorporation of AI into legal workflows allows firms to offer faster and more accurate services, strengthening their competitive edge.

Thinking Critically:

• Human Oversight Remains Crucial: AI tools are designed to augment, not replace, the nuanced decision-making of legal professionals.

• Ethical and Compliance Considerations: As AI becomes more integrated into legal processes, maintaining transparency and ensuring compliance will be paramount.

• Accessibility and Adoption Challenges: The success of these technologies will depend on their accessibility to firms of all sizes and the willingness of legal professionals to adapt to new tools.

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