Today at ILTACON in Orlando, the e-discovery company Relativity announced the launch of Relativity Contracts, a tool for contract analysis and due diligence review integrated within RelativityOne, the company’s cloud platform.
“Relativity Contracts allows users to glean actionable insights when analyzing agreements to meet changing regulatory requirements, realize business value and reduce legal risk,” the company said in its announcement.
The product comes with pre-built AI models for reviewing contracts, or customers can train their own models and import results from external models to transform contracts into structured data, Relativity said.
The product can reduce review time by 40% and enable users to see 50% project cost savings, Relativity said.
In addition to leveraging AI for Relativity Contracts, the company says it is actively piloting GPT-4 through the Microsoft Azure OpenAI service with selected customers, and will be releasing new products using GPT-4 at Relativity Fest, taking place in Chicago Sept. 26-28.
“We’re thrilled to bring Relativity Contracts to our community, and believe this robust solution, powered by RelativityOne, will enable our customers and partners to unlock the full value of AI-enabled contract analysis,” said Phil Saunders, CEO at Relativity.