Imagine having an intelligent assistant at your fingertips, one that can sift through complex legal documents and provide in-depth analysis with unparalleled speed and precision, saving you time, effort, and resources. This intersection of legal and groundbreaking AI technology is no longer on a distant horizon; we’re thrilled to announce that it’s here.
Introducing Ironclad Contract AI
Ironclad Contract AI (CAI) is a radically new take on an AI chatbot, allowing users to generate complex contract analyses across their contract database through an easy-to-use chat interface. The chatbot leverages AI agents to handle complex questions by breaking them down into subtasks, completing those subtasks, and using the results to inform the next set of tasks sequentially until it arrives at a final answer. This process is a departure from typical natural language search, which only leverages search agents to return a list of results. With its ability to reason with both metadata and contract documents, CAI goes one step further.
Announced today and beta launching in October, Ironclad CAI helps teams across the business locate, analyze, and extract information from contracts faster simply by asking questions – no complex search filter logic or training required. And because CAI is integrated with Ironclad’s full stack analytics platform, Insights, users can generate data visualizations for relevant questions. The possibilities are almost endless, allowing users to ask questions like:
- “I feel like my workload is bigger than normal. Have I been working on more contract workflows recently?”
- “What contracts are my sales team on track to close this quarter?”
- “Have we ever agreed to unlimited liability?”
The AI data warehouse that CAI draws from also enables the enforcement of security policies and data encryption that businesses require. Special data types like PII, credit cards, and PHI are anonymized, and when a user makes requests of CAI, it only uses and surfaces data that the specific user has permission to access.
Powering Ironclad CAI
Ironclad CAI owes its expedited development to Rivet, an open-source visual programming environment for building with generative AI. We built Rivet partially to enable step-by-step visibility into CAI’s analysis process and partially to allow developers to collaborate on building complex chains of logic, test them, iterate, and display the execution of the chain, all in real time and in a fully remote environment. We’ve made Rivet publicly available today after beta testing with partners like AssemblyAI, Attentive, Bento, Willow, and Sourcegraph.
Enhanced importing and tagging
Launching alongside the Ironclad CAI beta are a number of feature enhancements to Ironclad Smart Import. Ironclad Smart Import, which allows users to bulk upload contracts and automatically tag the detected contract metadata within them, now offers all users the ability to upload contracts via email. They can forward signed and completed contracts to a designated email address using their Ironclad login email, and Ironclad Smart Import will automatically scan them via optical character recognition (OCR) tech, tag the metadata, and store them in the Ironclad Repository. The user will get confirmation of a successful import with links to view the records, and each email will be an individual imported record.
And for those records that were previously imported through manual upload instead of Ironclad Smart Import, admin users will be able to bulk select and retroactively run them against Smart Import to tag and store their contract metadata. This feature, which launches in a beta today, unlocks all the contract metadata stored in unprocessed legacy contracts.
Unparalleled version control
Contract metadata and redline edits are only as accurate as they are up to date. And when counterparties get involved during the negotiation process, document version control gets increasingly more difficult, requiring manual updating and opening up the documents to data discrepancies. So today, we’ve beta released Ironclad Smart Detect, a feature that automatically identifies potential changes in the document itself and prompts users to accept the change, ensuring data sync between the documents and CLM without manual tracking.
An immersive afternoon in Texas
These groundbreaking new features were all announced at the third ever Ironclad Live Roadshow. Hosted in Dallas at the Virgin Hotels, this jam-packed afternoon featured a keynote from legal ops legend and Ironclad Chief Community Officer, Mary O’Carroll, a deep dive into building safe and responsible AI with Ironclad Chief Information Security Officer John Fiedler, product demos from Ironclad co-founder and Chief Architect Cai GoGwilt, plus a customer panel featuring speakers from St. Jude Children’s Hospital, L’Oréal, and the Houston Texans.
Watch the full recording:
A new world
There’s no doubt–generative AI product developers are in uncharted territory. But with the release of groundbreaking technology like Rivet and Ironclad CAI and the clarity they offer into the chains of logic behind an AI’s analytical process, developers can start gathering tools, building instruments, drawing borders, and familiarizing themselves with new terrain. “Where most generative AI is a black box,” shared Ironclad co-founder and CEO Jason Boehmig, “CAI is an open book.”
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.