ContractPod® today (27 September) announces the launch of EːV® (pronounced: “Eve”), an end-to-end artificially intelligent contract analyst, and the product of its investment in artificial intelligence (AI) technology.
With an intuitive and easy to use interface, EːV® is able to fulfil the overall contract analyst function. EːV® can read, interpret, analyse and report on key contract information, manage full contract workflow and approvals and automatically set alerts and reminders for important dates.
Using the most powerful and market leading cognitive technology, machine learning and natural language processing – and trained by senior commercial lawyers – EːV® also aims to deliver significantly higher accuracy levels than currently available.
EːV® will be fully integrated with ContractPod® as part of the new ContractPod AI® offering, delivering the most comprehensive AI powered contract management system in the market. The move is expected to change the shape of the current pyramid of legal roles, replacing the contract analysts effectively at its base.
ContractPod® Founder and co-CEO Sarvarth Misra, a commercial lawyer by background who conceptualised and designed the product, explains the move:
We see this as the next big leap in legal technology. We’ve used the best minds in the business – data scientists, AI specialists, technologists and commercial lawyers – to build the new application. The majority of current AI technology in the legal market is provided as a standalone offering. Our key differentiator is that we are providing our clients with a self-contained, end-to-end contract analyst functionality, with the ability to not only analyse and abstract data from contracts but support the management of the full contract lifecycle including workflows, approvals and setting alerts and reminders for the business. Essentially, EːV® will be backed with – and plugged-into – a fully comprehensive and automated contract management system presented as a seamless AI powered offering.
Leading legal technologist and founder of SYKE Alistair Maiden, endorses the move, adding:
Using AI to reduce the need for manual contract analysis is the natural evolution of automated contract lifecycle management and has the potential to significantly disrupt the established legal ecosystem.
In line with ContractPod’s existing philosophy, EːV® will be available to clients at a transparent, competitive and fixed annual fee.
Find out more at www.contractpod.com.