GEN AI ASSISTANT
The always-on legal assistant you’ve been wishing for
Get ready, the future is here. Generative AI is changing the game. Pramata’s intuitive Generative AI approach is designed specifically for use with our proprietary contract data set, our Gen AI Assistant can interpret meaning, summarize contracts, automate playbooks, draft documents and more!
Understand entire contract families and relationships in one click
Generative AI works best when it has a clean, accurate data set. With the Pramata Platform, you’ll have a unique and differentiated advantage. Building on the foundation of Cleanse and Organize, our GenAI Contract Summary quickly provides critical contract insights and summaries from the full history of your contracts with the push of a button.
- Instantly get a summary of the entire contract history for counterparty, including all MSAs, NDAs, and follow on amendments.
- Instantly get a summary of all orders executed for a business relationship, including contracted products, superceded orders, and renewals.
- See an analysis of where your current terms deviate from your standard playbook and could have potential risk or noncompliance.
Generative AI and Large Language Model (LLM) based applications like ChatGPT are accelerating work in all industries, including legal tech. Generative AI programs rely on prompts: the inputs from users to generate what it predicts is the desired output. Sometimes the output is not quite right and it’s not because of a deficiency in the program, but rather in the prompt given. This is why prompt engineering is a critical component to ensuring the right outcomes from generative AI.
At Pramata, we have productized a suite of built-in, pre-engineered prompts, to make sure your GenAI Assistant is more reliable and the output is usable and accurate.
Automate contract review
In an ideal world, every one of your contracts would strictly adhere to your organization’s compliance playbook. In the real world, exceptions and variations get made, which may leave you at risk over time. The GenAI Playbook Comparison quickly identifies compliance risk and required approvals. Helping you spot discrepancies and align draft agreements to company standards and best practices.
- Compare historical agreements for a business relationship against the current (plain-language) negotiation playbook
- Compare a draft agreement received from a counterparty against your organization’s negotiation playbook, flagging deviations, specifying risk level, and identifying the executive that must approve each provision
- Specify the relative risk of any deviations found
- Provide insight into the level of compliance across previously negotiated deals
End the grind of drafting contracts from scratch
Highly skilled attorneys don’t need to spend their time drafting repetitive contract language. With the help of Pramata’s GenAI Assistant, legal teams can drastically reduce manual efforts, accelerate cycles, and keep contract drafts in compliance. With a click of a button, our GenAI Assistant takes your executed agreements and automatically generates new, compliant contract drafts, giving you a massive head start.
- Automatically generate draft amendments for contracts, per your standard playbooks
- Effectively incorporate the current agreement structure such as amendment numbers and counterparty
- Insert recommended language based on negotiation standards, preferred clauses and fallback provisions.
Want to learn more?
Check out these helpful Pramata resources.