We did it!
CobbleStone Software has completed its widely anticipated million-clause project! The goal of this project (which has been met) was to nourish and enhance CobbleStone's industry-leading artificial intelligence engine with machine learning—VISDOM® AI.
Let's discuss in more detail what the completion of this million-clause initiative means to contract managers and other business professionals using CobbleStone's award-winning contract management, eProcurement, and eSourcing suite, CobbleStone Contract Insight®.
There are almost limitless medical conditions that can afflict human beings. And yet, some doctors can recognize thousands of these afflictions, along with how they present, how they are diagnosed, their prognosis, how they are treated, etc. But how do doctors come to know so much about the many medical conditions that exist? The answer is through repeated study of these conditions in medical school and exposure to patients from many different walks of life who need help dealing with their sicknesses.
Similarly, contract artificial intelligence within contract management software can learn to recognize almost countless different types of clauses within contracts if said contract intelligence engine is fed a "nutritious diet" of various contract clauses and terms. Such is the idea behind CobbleStone Software's million-clause initiative to nourish and enhance its proprietary contract artificial intelligence engine with machine learning - VISDOM® AI.
A Smarter Contract Intelligence Engine
To become more intelligent for stronger contract management processes, AI-powered contract management software needed to be exposed to various clauses and phrases that can be found within a wide variety of different contract types for various industries. Much like how doctors can grow exponentially more knowledgeable about the human body with numerous studies and interactions with real-life patients, VISDOM AI within CobbleStone Contract Insight® can grow ever more intelligent with continuous exposure to the contents of contracts.
CobbleStone has successfully classified and entered a staggering 1,000,000 clauses into VISDOM AI for an incredibly powerful repository of real-life clauses for machine learning. Natural language processes (NLP) and named-entity recognition are the foundations of this momentous and bold initiative.
Not only does VISDOM AI's knowledge base include over 140 standard clauses, but it also features uncommon clause categories tailored to industry-specific contract management needs. Some common clauses that VISDOM ingested to become even more powerful are:
- Indemnification Clauses
- Assignability Clauses
- Notices
- Jurisdiction Clauses
- Value Clauses
- Confidentiality Clauses
- Amendments
- Waivers
- Intellectual Property Clauses
How Does This Affect CobbleStone Users?
CobbleStone users with VISDOM as a Service (VaaS) can now enjoy a contract artificial intelligence engine that has learned from up to 1 million clauses out of the box! VISDOM is now familiar with over 140 common clause types and many industry-specific and situational clause types. CobbleStone's clause classifiers successfully introduced over 300 different clause types!
Chris M. - Senior Developer and AI Expert at CobbleStone Software - who was instrumental in the million-clause initiative - states,
"A variety of training data is essential for accurate classification and extraction. CobbleStone's million-clause initiative provides the base data required to consistently recognize clauses from a broad range of industries."
Users can also easily add their own clauses to VISDOM for machine learning in addition to the ones introduced in this million-clause initiative.
Get Started With Acclaimed, AI-Powered Contract Management Software
In the age of legal operations digital transformation, it is important that your organization is supported by leading, trusted contract management software built on a foundation of contract AI and machine learning. The only solution that offers the features mentioned above and more is CobbleStone Contract Insight.
CobbleStone's leading CLM software platform has been critically acclaimed by users and third-party analysts alike. Its seamlessly integrated and user-friendly contract lifecycle management suite is built on contract intelligence with machine learning, so users can enjoy a platform that grows with exposure to contracts. CobbleStone is low-friction and highly flexible and has been trusted by organizations from various industries.
Leading VISDOM contract intelligence features include:
- auto-redlining.
- automated data and clause extraction.
- contract metadata field mapping.
- identification and governance of sensitive data.
- risk assessment.
- statistical data analysis.
- real-time CLM recommendations.
Discover why thousands of contract management teams worldwide trust CobbleStone's AI-powered contract management software. Book your free demo today!
*Legal Disclaimer: This article is not legal advice. The content of this article is for general informational and educational purposes only. The information on this website may not present the most up-to-date legal information. Readers should contact their attorneys for legal advice regarding any particular legal matter.
