Contract management company Ironclad is set to introduce a chat interface for complex contract analysis, aiming to reveal the process of artificial intelligence’s (AI) decision-making. The interface, known as Ironclad Contract AI (CAI), breaks down multifaceted analyses into subtasks, building the next set of tasks from the insight gained. The beta launch is slated for October, with a waitlist already available for interested parties.
In addition to the chat interface, Ironclad is offering an open-source visual programming environment geared towards generative AI development, announcing new AI features as well as other product updates. Ironclad’s CEO and co-founder, Jason Boehmig, touted the transparency of CAI, where most generative AI systems remain enigmatic.
The company provided an example of CAI in action: a request to analyze seat counts in the most recent sales orders resulted in the AI pulling up and reviewing six types of contracts for various properties, then identifying key terms in those contracts. The end result was a comprehensive breakdown of seat counts by type.
Similar demonstrations included queries for charts of contracts by governing law and a request for justification of a pay raise. Ironclad’s chief architect Cai GoGwilt vouched for CAI’s ability to handle both standard and more complex questions.
Besides CAI, Ironclad launched Rivet, a collaborative, open-source visual programming environment. This tool lends developers a helping hand to visualize chains of logic, test and refine products, all while allowing real-time monitoring of the process. Rivet’s public availability follows a five-month beta test with partners including AssemblyAI, Attentive, Bento, Willow, and Sourcegraph.
New features were also announced that focus on facilitating contract uploading to Ironclad’s repository and extracting more data from contracts. Plausible improvements include importing contracts via email with automatic tagging, indexing, and storing powered by Ironclad’s AI. Legacy contracts can now have metadata tagged and extracted after uploading, and users will be able to automatically track changes to contracts and their metadata.
The full details of Ironclad’s announcement can be found here.