SpotDraft helps you work smarter with tailored AI solutions that augment your skills and secure your confidential information.

SpotDraft's Fall 2024 Release introduces a suite of AI-powered features designed to augment your capabilities. We’re not chasing AI trends; we strategically implement AI to solve real-world problems that matter to you.

VerifAI: Your Evolved AI-Powered Contract Review Copilot

This fall, VerifAI takes another step into its evolution as a true copilot that seamlessly adapts to your contract review process.

• Real-Time Sync: VerifAI now monitors your document continuously, indexing it in real time to keep up with your edits. This ensures that playbook results are always accurate and relevant, reflecting the latest version of your document as you make changes. We use AI to handle the repetitive, data-heavy tasks requiring speed and precision—so you can focus on what you do best.

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• Party-Specific Insights for Greater Accuracy: Select your party in the contract to receive tailored suggestions favorable to your position. VerifAI understands the nuances of party roles defined in the contract and provides more accurate and relevant guidance, achieving a 5% improvement in overall accuracy in our evaluation dataset.

• AI-Powered Playbook Generation: Kickstart your contract review with AI-powered Playbook Generation. Open your standard contract, click "New Guide" in VerifAI, and then "Generate with AI." VerifAI analyzes your contract and automatically generates a new Playbook with relevant rules. Review, edit, or add new rules to perfectly match your requirements.

In summary, VerifAI adapts in real time, understands party specifics, and accelerates guide creation, making contract review faster, yet still contextual.

Smart Data Capture Gets Even Smarter

Contract metadata management is becoming even easier with significant improvements to Smart Data Capture on SpotDraft.

• (Even More) Automated Data Extraction: Now, when you upload your contracts, SpotDraft automatically detects and fills in key information such as counterparty name, contract type, and organizational entity - for every single contract by default. You can extract 1000+ additional fields using Smart Data Capture.

We know that the performance of any AI is only as good as the information you give it. That’s why we’ve made it much, much easier for you to explain exactly which information you want to extract from your contracts to SpotDraft:

• Auto-Generated Descriptions: Generating descriptions for metadata fields is now powered by AI. The "Generate Description" button auto-generates field descriptions for your contract metadata, providing a starting point for extraction and making the setup process simpler than ever.
  
  
• Enhanced Descriptions with User Context: Add relevant context, examples, or specific instructions to make descriptions even better. The "Generate" button transforms into an "Enhance" button, using your input to create more detailed descriptions. This enhancement simplifies the setup and amplifies the power of Smart Data Capture.

To sum up, Smart Data Capture now offers smarter auto-descriptions and customization options, enhancing your metadata workflows.

Summary of Changes: Navigate Contract Versions with Ease

Introducing Summary of Changes, a powerful new feature that helps you quickly understand key revisions without reviewing the entire document.

• Automated Change Summaries: SpotDraft automatically compares the current version with the last, and summarizes the changes when a new version is uploaded and marked as received from the counterparty.
• Top 5 Changes at a Glance: View an overview of the top five changes for immediate visibility, allowing you to prioritize your review effectively.
• Estimated Review Time: Get an estimate of the time required to review all changes, helping you manage your workload efficiently.

In essence, Summary of Changes streamlines revision navigation, saving you time and effort.

Building an AI Dream Team: Our Model-Agnostic Approach

SpotDraft doesn't rely on a single AI model; we adopt a model-agnostic approach, selecting the best AI tool for each specific task. This ensures optimal performance and precision across all features.

We're not putting all our eggs in one basket; we're assembling a dream team of AI specialists, each a master in their own domain.

• Contract Review (Risk Assessment): We chose GPT-4 for its high recall and ability to interpret legal language, ensuring thorough risk identification.
• Contract Review (Playbook Generation): o1-mini excelled in scenarios requiring deeper reasoning and nuanced understanding, making it ideal for extracting complex guidelines.
• Contract Summarization (Metadata Extraction): Gemini 1.5 Flash proved superior for handling large contract contexts and extracting metadata quickly and cost-effectively.
• Contract Summarization (Description Generation): GPT-4 Turbo was favored for its speed in generating accurate descriptions for metadata fields.
• Party Information Extraction: GPT-4o mini demonstrated the best balance of recall and precision for identifying parties in contracts.

Read more here.

By assembling the best models for each task, we ensure you get the most efficient and accurate AI assistance.

Data Security: Protecting Your Information

At SpotDraft, we are dedicated to safeguarding your data, ensuring that your contracts remain confidential and secure from unauthorized access. We are committed to the highest standards of data privacy and security, ensuring that your confidential contract information is fully protected. Our AI solutions are designed with data security at the forefront, giving you peace of mind.

SpotDraft Fall 2024: Empowering Legal Professionals

Augmenting, Not Replacing

SpotDraft's AI solutions empower legal professionals by augmenting your capabilities, not replacing them. It's the difference between using a butter knife and the right tool to cut your steak—we choose efficiency and precision. By handling routine tasks like document analysis, data extraction, and checklist reviews, we allow you to focus on higher-level responsibilities that require deep legal understanding, strategic thinking, and emotional intelligence.

Ready to experience AI that works smarter, not harder? Register for our Fall Release Webinar, and see how SpotDraft's Fall 2024 Release can transform your workflow.