Lexis+ users will get a new tool aimed at speeding up that process with Agreement Analysis.
https://abovethelaw.com/2023/06/lexis-unveils-new-agreement-analysis-tool/
Agreement Analysis uses AI to extract and recommend alternate clause language from seven million clauses publicly filed in SEC EDGAR documents, and from Practical Guidance sample clauses, templates and agreements. From there, attorneys can quickly compare alternate language for the most highly negotiated clauses in their document, and leverage drafting guidance and insights from Practical Guidance and benchmarking data points from Market Standards, to effectively customize clauses for a transaction.
Everyone is focused on generative AI as the hot new thing, but extractive AI still has its uses. The robots don’t need to write new clauses, they just need to find the right language that humans already wrote. Then rewrote. Then fought about at 3 in the morning. Then rewrote. Then threatened to walk out over. Then rewrote. Then returned to the original wording.
At launch, the tool focuses on M&A, stock purchase agreements, and asset agreements.