SpotDraft, a contract management company, has recently launched VerifAI, a new AI add-in for Microsoft Word that uses artificial intelligence to help lawyers review contracts more efficiently. VerifAI checks contracts according to user-specified guidelines, written in plain English, and also answers open-ended, contextual, and logical questions about contracts.
During the early-access phase, over 250 users from over 100 companies tested the product and provided feedback. Based on their feedback, SpotDraft has made several improvements to the product. Now, users can share their personal review guides with colleagues or friends, use the Ask AI chatbot while running the manual, and see multiple references to the guidelines the user checks in a contract.
VerifAI is a standalone product that doesn’t require any other SpotDraft subscription. It requires no training and is user-friendly and easy to set up. Users can try the product for free for two weeks, after which a subscription costs $60 per month.
Overall, VerifAI is an excellent tool that can help lawyers streamline the process of reviewing contracts.
Source: LawSites
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