Contracts are essential for both individuals and organizations, covering vendor agreements, credit card terms, loyalty programs, and purchase orders. However, most contracts are long and complex, making them difficult and time-consuming to understand.
A recent Adobe Acrobat survey found that over 70% of consumers have signed contracts or agreements without fully understanding them, and 64% of small and medium business owners have avoided signing contracts due to uncertainty about the terms, reports Adobe on a press release.
To address this issue, Adobe has introduced new contract intelligence features in Acrobat AI Assistant. These generative AI-powered tools help users comprehend intricate terms, compare different versions, and ensure transparency in agreements.
New Acrobat GenAI Assistant FeaturesÂ
The Acrobat AI Assistant enables businesses and consumers to work with contracts more efficiently. These features include:
- Contract Recognition & Overview: Automatically detects when a document is a contract, including scanned versions, and generates a contract summary with key terms highlighted.
- Simple Explanations: Provides clear, concise summaries with clickable citations, allowing users to verify contract information quickly.
- Compare and Contrast: Helps users identify discrepancies and inconsistencies across multiple contracts, ensuring accuracy and compliance.
- Effortless Sharing and Signing: Simplifies contract reviews with stakeholders and facilitates e-signature requests in one seamless platform.
The introduction of AI-driven contract management capabilities is a game-changer for legal, financial, and business sectors. By streamlining document analysis, these tools help companies reduce legal risks, avoid costly mistakes, and improve operational efficiency.
Small businesses and individual users can also benefit from the AI assistant’s ability to identify key clauses, flag missing information, and suggest relevant questions before signing agreements.
Adobe ensures data security by aligning with its AI Ethics framework and prohibiting the use of customer data for AI training.
Acrobat AI Assistant integrates with Adobe’s Liquid Mode technology to enhance document structure comprehension and deliver precise responses through advanced prompt engineering.
Additionally, Acrobat AI Assistant integrates seamlessly with existing workflows, making it easier for organizations to adopt AI-powered contract intelligence without disrupting their current systems. Adobe’s focus on continuous learning and improvement ensures that its AI models evolve with the latest legal and regulatory standards, providing users with up-to-date contract insights.
Furthermore, Acrobat AI Assistant leverages an advanced intelligent framework combined with robust prompt engineering techniques. This powerful combination enhances the system’s ability to generate precise, contextual, and highly relevant contract insights, making legal and business workflows smoother and more reliable than ever before.
Adobe emphasizes that these features are designed to facilitate transparency, compliance, and efficiency in contract management, ensuring users can make informed decisions with confidence.
As businesses and individuals navigate increasingly complex contract landscapes, AI-powered solutions like Acrobat AI Assistant will continue to play a crucial role in simplifying and optimizing agreement management. By leveraging these innovations, organizations can save time, reduce risks, and gain confidence in their contractual obligations.
