Knowable has unveiled Ask Knowable, an advanced GenAI-powered suite to simplify contract analysis and deliver actionable insights quickly.
Knowable, a LexisNexis company specializing in enterprise contract intelligence, has introduced Ask Knowable, an AI suite designed to enhance how businesses interact with contract data. Powered by advanced GenAI and natural language processing, the tool enables users to query contracts conversationally and get precise answers, saving time and effort. Integrated into Knowable’s platform, it leverages 98% accurate data and patented contract family mapping for unmatched contextual understanding of agreements.
Key features include AI Contract Search, which allows instant retrieval of contracts through conversational prompts. As well as AI Contract Summaries for digesting critical terms and obligations across agreements. Its AI Chat tool provides detailed answers about evolving contract terms. Drawing on Knowable’s proprietary family mapping system to understand interconnected agreements. This ensures faster and more reliable responses compared to traditional methods.
With a focus on security, Ask Knowable adheres to LexisNexis’s Privacy by Design principles. Ensuring that contract data remains secure. The AI suite addresses common challenges like the complexity of navigating amendments and interconnected agreements. Reducing the time needed to gain insights. It offers legal, procurement, and finance teams a seamless way to manage contracts and extract value efficiently.
According to CEO Nik Reed, “Ask Knowable combines proprietary contract models and cutting-edge generative AI to deliver unparalleled clarity in contract management. This innovation transforms executed agreements into dynamic tools for decision-making.” The potential of genAI within contract management is significant. With the suite granting organizations the ability to unlock the full value of their contracts. By combining advanced AI with extensive legal expertise, Ask Knowable delivers intelligent insights that enhance the way organizations manage and derive value from their executed agreements.