Contract Review & Analysis Legal AI Tools

TL;DR: BlackBoiler, NSF-funded and powered by patented NLP technology, revolutionizes automated contract markup, aiding industries like construction and banking with AI redlining capabilities.

AI contract review, traditionally laborious, can keep lawyers busy for hours.

In 2017, a team including a Harvard Law fellow and MIT PhD students founded Evisort to address contract review challenges with academic rigor. They recognized contracts as complex legal instruments with significant consequences, which influenced Evisort’s specialized development.

Contract analysis AI has revolutionized M&A due diligence and legal document review. Before tools like Kira Systems emerged in 2010, associates manually reviewed contracts for weeks. Kira's machine learning technology automated this, reducing review time from weeks to days.

LegalOn Technologies expanded into the US market with dual headquarters in San Francisco and Tokyo, announcing its expansion into the United States.

"Legal-Grade" goes beyond marketing. Luminance's LLM was trained on 150 million legal documents, learning to recognize clause patterns and detect risks.

In the UK legal market, many AI tools claim to revolutionize AI contract review, yet they often rely on lawyers. Robin AI, a London-based company founded in 2019 by ex-Clifford Chance lawyer Richard Robinson, offers a unique alternative.

Contract lifecycle management often requires legal teams to toggle between platforms, emails, and repositories. Summize is a Manchester-based legal technology company that integrates contract management into Microsoft Teams CLM using its SIA AI technology.