Question: Is there a tool that uses AI to extract data from contracts and minimize risk?

If you're looking for a tool that uses AI to extract data from contracts and reduce risk, Docusign is a top choice as an intelligent agreement management platform. It turns static, unstructured agreement data into insights, with features like AI-powered data extractions, obligation management, risk assessment and full-text search. Docusign is designed to boost productivity and shorten contract review cycles, so it's good for any industry and company of any size.

Another top contender is Lawgeex, an AI-based contract review and management platform that marries human expertise with AI smarts. It reviews and redlines contracts according to company policies faster and more accurately, using thousands of pre-trained legal concepts to understand subtleties of legal language. Lawgeex offers data-driven insights to inform legal policy decisions and can be integrated with many tech stacks, which makes it a good fit for finance, insurance, tech and health care.

For high-volume contract review, Maigon offers an AI-based tool that automates contract review, including compliance with regulations like GDPR and industry standards. It offers quick start without pre-training, proprietary data collection and support for more than 50 languages, making it a good fit for in-house sourcing teams, legal departments, law firms and contract platforms.

Last, Ironclad offers an AI-based contract lifecycle management platform that's geared for collaboration and compliance. It includes a single-source AI-powered repository for contract data, digital contracts with self-service and control, and compliance and approval frameworks. Ironclad also offers AI-driven analytics dashboards and integration with tools like Salesforce and Slack, so you can negotiate contracts and sign them electronically quickly and securely.