Today, we will explore how to accelerate contract review and redlining with a suite of generative AI features in the word add in.

AI powered contract review allows you to, one, understand a quick summary of what's in an agreement without reading it in full, getting the insight you need in seconds, and allows you to prompt the AI to suggest changes to a clause to better fit your preferred language so there's no more starting from scratch during negotiations. Let's see how it works.

After authenticating and logging in to your Finalize for Word add in, select browse agreements and open the agreement that you'd like to work on.

We'll start by exploring the review panel, and then navigate to the abstract tab.

Here, you'll see a short AI generated summary of the agreement and more granular key points to quickly gain insight into an agreement.

To see the exact agreement language, expand a key point of the summary and click the highlighter to find the relevant text right within the source document.

Next, let's move to the changes tab. Let's say the counterparty sends over red lines. Here, you'll find an AI generated summary of the changes that have been made since the last version of the document. Expand a summary change and click the highlighter to find the relevant change in the source document.

Moving on to the assist tab, this tool enhances your ability to interact dynamically with your contracts using a natural language chat.

Note, these features work particularly well when working with third party paper. Here are four specific ways you can leverage the assist feature.

First up is general queries.

You can ask broad questions about any aspect of the contract, such as when does this agreement expire, and the AI assistant will offer contextual links to the document to show where it sources its responses to these questions.

You can also understand specific clauses.

If you encounter a complicated clause and need clarification, highlight the text and ask the AI assist for a plain language explanation.

For example, can you explain the implications of this indemnification clause?

The AI assist can also redraft the language to better suit your needs. If a clause seems unfavorable, highlight it and ask, can you redraft this to be more tenant friendly?

Finally, AI assist can draft completely new language.

Instruct the AI assist to draft a new sublease clause for this commercial lease. The AI will develop new language that you can drop right into the document.

You can always review the conversation history by clicking the three bar icon on the left or the plus sign to start a new conversation.

To start using AI powered contract review, you must explicitly request and accept these features, AI agreement summarization, AI redline summarization, and AI document converse. If you have any questions about AI powered contract review or the Microsoft Word add in, please reference the articles below or reach out to your customer success manager.