Press and industry news

New platform features include radically simple and powerful pre-signature capabilities that flip the script on CLM solutions that are expensive to implement and impossible to maintain. Las Vegas, Nevada & San Francisco, Calif., May 16, 2023 – Pramata, the leading end-to-end contract management solution provider, today announced the latest version of its contract

by Praful Saklani, Pramata CEO “For now, the one thing I know for sure is that wherever generative AI is headed, it is going to get there much faster than any of us realize,” Saklani writes. “My hope is that it continues to be just as awe-inspiring as what we’ve experienced so far.”

Generative AI has taken the legal world by storm, and that means legal professionals are going to have to learn to communicate with machines. One key skill for doing so has emerged: prompt engineering.

Everyone who is in-house is saying, ‘This is why I work in-house.’ It’s a real attitude. There’s so much insecurity rooted in establishing a paradigm where he who works the most is the most valuable. When you’re early in your career, that is the paradigm that is reinforced because of the billable hour.

He joins the company’s leadership team after being the latest executive to leave San Francisco’s largest tech employer.

Serdinsky will oversee the company’s onboarding and customer success programs with a focus on helping Pramata users gain deeper value from the contract management platform San Francisco, Calif., April 11, 2023 – Pramata, the leading end-to-end contract management solution provider, announced today it has named John Serdinsky as its first Chief Customer Officer.

During the recently completed Legalweek 2023, artificial intelligence dominated the conversation. Not everyone agreed on how legal professionals should—or could—use it. But no matter who you talked to, one thing was certain: The legal landscape will undergo a significant transformation due to the recent and rapid advancements in AI.

There’s so much insecurity rooted in establishing a paradigm where he who works the most is the most valuable. When you’re early in your career, that is the paradigm that is reinforced because of the billable hour. It’s a problem that’s really plaguing Big Law especially.”

During the recent Legalweek, panelists debated what impact ChatGPT and generative AI could have on the legal industry, if any, but urged caution nonetheless. The tool suffers from “hallucinations,” meaning that sometimes the technology “predicts” facts that have no actual basis in reality. In one notable case, as explained by panelist Foster Sayers,

The feds have rescued entrepreneurs from Silicon Valley Bank’s demise, but the collapse should have founders reexamining their financial posture. “Because of this situation, people are now going to have to inspect the balance sheets and understand, how much risk am I really taking on, and how well-managed is this bank?” Saklani says.

This week’s episode features a conversation with Foster Sayers and Ilona Logvinova, who participated in a workshop at Legalweek New York 2023 titled, “Reshaping the Legal Profession: Thriving in the Age of Generative AI & ChatGPT”.

Watch Foster Sayers join Mike Whelan, at ContractsCon 2023, to discuss OpenAI’s Terms of Service and their application to ChatGPT. According to Sayers, the terms of service may have applied well to the users of OpenAI’s API connections, but perhaps not everyday consumers. Now that ChatGPT is explicitly targeting consumers, should their terms change?

“Where legal might have a stake is relative to how the winner might minimize the change management aspect of an already disruptive technological advancement,” said Foster Sayers, general counsel and chief evangelist at Pramata.”

See a running compilation of how the legal landscape continues to be shaped by generative AI tools, from GPT technologies to art generation tools and beyond.

Since launching an end-to-end contract management solution designed specifically for small in-house counsel teams, Pramata has experienced more than eight-times its usual growth rate in new customer deals  San Francisco, Calif., February 22, 2023 – Pramata, the leading end-to-end contract management solution provider, announced today it has experienced more than 300% growth in