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Whether due diligence procedures, the analysis of rental contracts or the examination of leasing contracts in accordance with IFRS 16 – lawyers and auditors often have to work through and examine a large number of legal documents under great time pressure. Artificial Intelligence can relieve lawyers of standard tasks.

In case of company takeovers, corporate lawyers have to examine contracts on a massive scale for possible risks under great time pressure. Contract analysis software such as the Contract Analyzer is an intelligent reading aid that helps save time and ensures that relevant clauses are not overlooked.

Lawyers avoid social networks, use the PC rather as a typewriter replacement and read thick law books instead of websites to solve their cases – this idea about the everyday working life of lawyers still prevails in many minds. Digitisation has long since also affected the legal departments in companies and also the work in law firms. Here are some practical examples of Legal Tech.

Contracts are usually pages long and exist in large quantities, often unstructured in the file system or are stored in systems with poor search options. Enterprise Search applications help to make contracts intelligently searchable, to get a comprehensive overview and not to overlook anything essential.