Adobe recently introduced Contracts AI, a new multimodal feature for its Acrobat AI Assistant. This powerful tool simplifies legal document analysis, enabling users to decipher complex language, summarize key terms, and identify discrepancies across multiple contracts with a single click.
Contracts AI supports both digital and scanned documents, automatically recognizing contracts and tailoring the user experience accordingly. With a single click, the AI generates a contract overview, highlighting key terms and suggesting relevant questions based on the document’s content. This feature streamlines the process of understanding complex legal agreements.
Furthermore, the AI summarizes contract contents in clear, concise language, providing clickable citations for easy verification. The system can analyze up to ten contracts simultaneously, allowing users to quickly identify and address any discrepancies. This comparative analysis feature proves invaluable when dealing with multiple related agreements. For added convenience, users can e-sign completed contracts directly within the Acrobat app.
A recent Adobe survey of Acrobat users revealed that nearly 70% of consumers and over 60% of small and medium business owners have signed contracts without fully understanding the terms. “Contracts AI makes agreements easier to understand and compare, and citations help customers verify responses, all while keeping their data safe,” stated Abhigyan Modi, SVP of Adobe Document Cloud.
Adobe emphasizes that Acrobat’s AI features adhere to strict data security protocols and align with the company’s AI Ethics processes. Customer data is not used to train generative models, and third-party developers are prohibited from using Adobe data for their own models.
This new Contracts AI feature is available as a $5 monthly add-on subscription for both the free Adobe Reader app and the paid Acrobat app. Currently, access is limited to desktop and web platforms in English. While Adobe is working on expanding language support, no specific timeline has been announced yet.
In conclusion, Contracts AI offers a significant advancement in legal document accessibility and analysis. Its ability to simplify complex language, summarize key terms, and compare multiple contracts empowers users with a greater understanding of their legal agreements.
