The old way of capturing essential data attributes from legal documents has been transcended, thanks to technology. We hear about Artificial Intelligence (AI), we hear about Machine Learning software systems and other new technologies for data extraction from contracts. But when we dig into the details, the accuracy of abstraction is not to the standard for companies to make reliable business decisions. It is difficult to achieve very high accuracy from software and consistency from manual methods.
In this whitepaper, we will learn how AI alone can be insufficient for a legacy contract data extraction project, as well as the importance of leveraging human expertise in improving the efficiency of an AI.