Adobe Acrobat AI Assistant Can Compare And Summarise Complex Contracts

1 year ago 63

The days of having to read through pages of text to get the key points of a contract could be over ... [+] thanks to Adobe's new Contract Capabilities in the latest release of Acrobat Assistant AI.

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Have you ever struggled to make sense of a long and complex contract or terms of use? If that sounds like you, then you’re not alone. Even some lawyers can be bamboozled by a poorly drafted or opaque contract.

To help with this problem, Adobe has introduced new intelligent contract capabilities in Acrobat AI Assistant. The new feature is designed to simplify the review of contracts thanks to new generative AI features that can grasp complex terms and spot differences between multiple versions of an agreement, enabling you to better understand and verify the information that these important documents contain.

Whether it’s a credit card agreement, a vendor contract or even the small print in a loyalty program or purchase order, Acrobat AI Assistant can scan the text.

Contracts are a fact of modern life for consumers and businesses and many can be long and complicated, making it difficult and time-consuming to plow through their contents and keep a clear head.

According to a new survey by Adobe, nearly 70% of consumers have signed contracts or agreements without knowing all the terms in the contract. Some 64% of SMB owners say they’ve even avoided signing a contract simply because they weren’t confident that they fully understood its content.

“Customers open billions of contracts in Adobe Acrobat each month and AI can be a game changer in helping simplify their experience,” claims Abhigyan Modi, senior vice president of Adobe Document Cloud. “We are introducing new capabilities to deliver contract intelligence in Adobe AI Assistant, making it easier for customers to understand and compare these complex documents and providing citations to help them verify responses, all while keeping their data safe.”

Get an immediate overview of a contract without having to wade through reams of impenetrable and ... [+] turgid text.

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By leveraging the new contract intelligence capabilities in Acrobat AI Assistant, business owners can easily identify key dates in a vendor contract or prepare to review a new partnership agreement with their attorney. Finance teams can accelerate reviews of sales contracts and more. Adobe says that marketers can pinpoint changes in updated scopes of work and quickly find deliverables in brand and advertising partnerships. As for consumers, they can quickly locate occupancy policies in apartment leases, find out-of-country charges in their mobile phone contracts or compare amenities between top venue choices for a special event, such as a wedding reception.

Adobe says Acrobat’s comprehensive set of features and capabilities can help people understand, review and sign contracts all within one app. Features include Contract Intelligence that automatically recognizes when a document is a contract—including scanned documents—and tailors the experience, generating a contract overview, surfacing key terms in a single click, quickly summarizing information and recommending questions specific to customers’ documents.

Acrobat AI Assistant can also generate summaries and responses with clear language and clickable citations, making it faster and easier to navigate to the source and verify responses. Users can quickly see differences between versions of a contract​, check for consistency and catch any discrepancies​ across up to 10 contracts—including scanned documents. Other features include the ability to easily review contracts with stakeholders and request e-signatures, all with one app.

The features in Acrobat AI Assistant are governed by data security protocols and have been developed in alignment with Adobe’s AI Ethics Processes. Adobe says it never trains generative AI models on customer data and prohibits third-party LLMs from training on Adobe customer data.

Acrobat Assistant AI can even scan up to 10 documents at a time to find discrepancies.

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Adobe Acrobat AI Assistant supplements LLM technologies with the same artificial intelligence and machine learning models behind Liquid Mode to provide an accurate understanding of a document’s structure and content, which Adobe says enhances the quality and reliability of AI Assistant’s outputs.

The new Contract Intelligence capabilities introduced in Acrobat AI Assistant are powered by extensive prompt engineering and an intelligent framework, which Adobe says can help deliver more accurate and relevant responses to contracts.

This new development of Adobe Acrobat is a big deal considering the software is a core productivity tool for more than 650 million monthly active users who open more than 400 billion PDFs with the app each month.

When it was launched in February 2024, Acrobat AI Assistant aimed to transform how people and businesses work with their documents. With new features and growing adoption, Adobe says Acrobat AI Assistant saw customer conversations in the app double quarter over quarter in the final quarter of 2024.

Pricing & Availability:

Customers can access the new contract capabilities in Acrobat AI Assistant. Both the free Reader and paid Acrobat for individual customers can purchase Acrobat AI Assistant as an add-on for $4.99 per month. The capabilities are available on desktop, web and mobile apps in worldwide English; other languages will follow.

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