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Agiloft powers new GenAI Prompt Lab to bolster contract lifecycle management

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Agiloft, a trusted global leader in data-first contract lifecycle management (CLM), is introducing enhanced capabilities for contract intelligence and connectivity with the new Generative AI Prompt Lab. 

The Generative AI Prompt Lab empowers users to leverage public or private large language models (LLMs) to enhance any contract data within their Agiloft environment bringing, for the first time, organization-specific AI capabilities to every element of contract lifecycle management, according to the company.

Additionally, in response to the growing demand for expanding access to AI across the organization, the new ConvoAI Document Q&A enables any authorized user to use Generative AI to find, analyze, contextualize, and extract information from any contract through the standard Agiloft document viewer.

These and other new features introduced in the upcoming Agiloft Spring Release focus on simplifying connections to contract intelligence via:

  • Boosted productivity: templated AI-powered shortcuts created and maintained through GenAI Prompt Lab, bring unmatched efficiency to high volume, yet repetitive, daily tasks, releasing valuable legal resource time for strategic work that directly impacts operations.
  • AI-powered contract exploration: ConvoAI Document Q&A empowers users to get to the heart of any contract by asking questions and gaining insights in simple, natural language.
  • Enhanced collaboration: the introduction of direct interactions with clause libraries and AI capabilities within the Google ecosystem empowers co-workers to work smarter, not harder, by connecting people and data simply and seamlessly.
  • Strengthened data flow: bi-directional record sync connects contract data between tools, so Agiloft users see the most accurate information, liberating data and streamlining workflows.

“At Agiloft, we understand the power of connecting people, data, and the latest innovations in artificial intelligence. That’s why our latest product release is all about transforming the contracting process by making AI-powered contract intelligence accessible to the entire organization,” said Andy Wishart, chief product officer at Agiloft. “GenAI Prompt Lab is the only solution that invites customers to bring their own Large Language Models (LLMs), connect with contracts, and achieve goals faster by sharing prompt templates organization-wide. And ConvoAI Document Q&A liberates the data in stored contracts, providing ubiquitous access while reclaiming valuable legal hours to use in achieving strategic goals."

These enhancements are now available to customers to continue driving value alongside other valuable features released in calendar 2024, including the custom API Platform and generative AI redlining capability, according to Agiloft.

For more information about this news, visit www.agiloft.com.  

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