AI

Agiloft launches new GenAI Prompt Lab™ capabilities

Agiloft’s new GenAI Prompt Lab™ capabilities power unmatched connectivity between contracts, generative AI large language models, and the people using them

Agiloft, the most trusted global leader in data-first contract lifecycle management (CLM), announced enhanced capabilities for contract intelligence and connectivity today. The new Generative AI Prompt Lab capabilities empower users to leverage public or private large language models (LLMs) to enhance any contract data within their Agiloft environment bringing, for the first time, organization-specific AI capabilities to every element of contract lifecycle management. Additionally, in response to the growing demand for expanding access to AI across the organization, the new ConvoAI Document Q&A™ enables any authorized user to use Generative AI to find, analyze, contextualize, and extract information from any contract through the standard Agiloft document viewer. These and other new features introduced in the upcoming Agiloft Spring Release focus on simplifying connections to contract intelligence via:

  • Boosted productivity: templated AI-powered shortcuts created and maintained through GenAI Prompt Lab, bring unmatched efficiency to high volume, yet repetitive, daily tasks, releasing valuable legal resource time for strategic work that directly impacts operations.
  • AI-powered contract exploration: ConvoAI Document Q&A empowers users to get to the heart of any contract by asking questions and gaining insights in simple, natural language.
  • Enhanced collaboration: the introduction of direct interactions with clause libraries and AI capabilities within the Google ecosystem empowers co-workers to work smarter, not harder, by connecting people and data simply and seamlessly.
  • Strengthened data flow: bi-directional record sync connects contract data between tools, so Agiloft users see the most accurate information, liberating data and streamlining workflows.

Andy Wishart, Chief Product Officer at Agiloft, explains: “At Agiloft, we understand the power of connecting people, data, and the latest innovations in artificial intelligence. That’s why our latest product release is all about transforming the contracting process by making AI-powered contract intelligence accessible to the entire organization. GenAI Prompt Lab is the only solution that invites customers to bring their own Large Language Models (LLMs), connect with contracts, and achieve goals faster by sharing prompt templates organization-wide. And ConvoAI Document Q&A liberates the data in stored contracts, providing ubiquitous access while reclaiming valuable legal hours to use in achieving strategic goals.”

The new capabilities include:

  • GenAI Prompt Lab – this unique development interface enables subject matter experts to build templated prompts that can be deployed to automate high-volume, dynamic contract tasks, freeing legal teams to move on to higher-value work and enabling users to customize well-formed prompts. Agiloft customers choose between using Agiloft’s AI, or their own LLM, to accelerate an unlimited array of daily tasks, such as creating contract summaries, comparing clauses, or even composing termination letters for expiring contracts.
  • ConvoAI Document Q&A – enabling deeper connections with individual contracts, Agiloft’s ConvoAI revolutionizes access to contract data. This AI-powered chat experience lets authorized users explore contracts and uncover data and insights by simply asking questions, in natural language, from within any selected document, accessed through the standard Agiloft document viewer. Gone are the days of wading through legalese – ConvoAI unlocks unmatched efficiency for business inquiries, empowering colleagues to independently analyze, and extract data from, contracts, eliminating the need to drain legal’s time to answer basic questions.
  • Google Docs app enhancement – for the first time, Google users can access Agiloft’s clause library, and AI features directly from Google Docs, placing the ability to analyze, markup, and reach agreement on third-party documents inside a familiar workspace.

“GenAI Prompt Lab embodies Agiloft’s distinctive, flexible, data-first philosophy,” says Jack Wicks, Senior Product Manager at Agiloft. “By offering the versatility to leverage our generative AI models or to integrate your data with your own models, we ensure that, as AI technology advances, your workflows evolve in tandem. GenAI Prompt Lab truly delivers personalized AI, your way.”

Today’s enhancements are now available to customers to continue driving value alongside other valuable features released in calendar 2024, including the custom API Platform and generative AI redlining capability.

To learn more about how Agiloft can transform your data-first contracting process, visit the Agiloft website.

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