If you’ve ever read any contracts in depth, you’ll find a lot of jargons and long text very daunting to read. For that, Adobe is introducing a feature in Acrobat called “contract intelligence” that can summarize the contracts into plain English and key points.
Adobe Contract Intelligence
The premise of this feature is that Acrobat AI Assistant, a $4.99/month subscription available to all Adobe Acrobat users, will now detect if a document is a contract (including scanned ones). When that happens, the AI chatbot will generate a contract overview, list key terms, summarize information and recommend questions to the user specific to the document.
Of course, AI naturally has the tendency to “hallucinate”, and to safeguard this, the chatbot will provide clear language and provide citations so users can skip to the original text to verify information as needed. Adobe says it can even catch discrepancies by comparing up to 10 contracts.
What’s the reason behind this feature, you may ask? Adobe says 69% of consumers in US admitted signing contracts without knowing all the details, and a similar portion of users says reading contracts induce negative feelings. Some 70-plus percent of respondents believe that AI assistant can help clear things up for them, according to the company.
That being said, if you’re signing a particularly important contract, it’s best leave it to real lawyers – you don’t want to get the short end of the deal by relying on AI, especially from a legal perspective.
Pokdepinion: I can see the usefulness at this, but I wouldn’t imagine a million-dollar contract will be using this to pass the sniff test.
