AI-first movers: the best risk managers
While many are very reluctant to experiment with AI, we, at Weagree are moving towards a close embrace of AI. The world seems to adopt AI from the bottom up: the first movers being suppliers; customers and end-users are ‘not necessarily’ pushing.
As hallucination is still a point of attention, what fascinates is that in the current AI developments, the best risk managers happen to be the first movers. That is remarkable, as you would expect the opposite: reluctant laggards to act cautious and risk avoidant. That appears to be incorrect in the short term.
Gartner observes that the best risk managers of our times are the innovators, and, along with McKinsey, Gartner believes that those who experiment with AI now, will become the winners in 2028 (when worldwide adoption of AI will have happened).
At Weagree, we are exploring the use of AI in an increasing number of areas: first, in the Weagree Wizard but of course also in various other operations. To us, AI comes natural.
AI in contracting
AI-review of a first-draft contract received from the counterparty, some AI-based risk assessment associated with such review, AI-driven data extraction (including bulk migration of legacy contracts into high-end CLM solutions), and of course, an extensive series of features that accelerate tiny contracting processes across the entire contract lifecycle.
AI appears to be so powerful in the context of contracting that our programmers can hardly catch up with the flow ideas we generate. Your AI Copilots in Weagree will also bring you:
and countless manualities that are easy to accelerate in the broader context of existing contract automation or CLM functionalities (for those who are already on track with legal tech).
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In the slipstream of our AI functionalities we are releasing functionalities that are not necessarily AI-based, but somehow ‘feel’ like it: automated conversion of scanned PDF’s into full-text searchable files (so-called OCR), indexing of the CLM database of contracts (and of the entire OCR’ed repository), fuzzy search of your CLM.
AI in other operations
We are using AI in various ways already: defining our strategic positioning, reviewing our quotations, reviewing various other communications means, exploring how to accelerate our sales into new markets (and how to reach out to unreachable prospects). We even use it on our website.
AI and you
We understand that you are reluctant. But because we are well aware of the challenges and risks of using AI, we are also keen to make sure our customers do not bear the consequences of AI. We like to keep you out of the wind if you are willing to join us on our AI roadmap.
We know where in end-to-end contracting the CLM-risks show up. Therefore, we are well-suited to help you identify and eliminate those risks. It is better to become a skilled risk manager (and never be exposed to the negative consequences of AI) than to avoid it in fear and stay ignorant.