Understanding Contracts Just Got Easier with Adobe’s New AI-Powered Tool
Introducing the Future of Contract Analysis
All of us have to deal with contracts and agreements as consumers or business professionals. However, as most contracts are written in legalese, understanding them can be challenging. To ease the pain, Adobe has added a new skill to its Acrobat AI that tries to interpret complex contracts for the average person.
How it Works
Automatically detecting when a PDF is a contract, the AI can summarize the information, suggest questions for you to ask, and even find differences between multiple versions of a contract. To access the new contract-reading superpower, you’ll need to purchase Adobe’s AI Assistant for Acrobat, a $5 per month add-on for the paid Adobe Acrobat and the free Acrobat Reader.
Key Features
- Recognizes regular PDFs and scanned documents set up as contracts
- Generates an overview and highlights keywords and terms for you
- Provides a brief summary of the details with cleaner, clearer language and citations
- Scans for differences among multiple versions of the same contract and finds inconsistencies and discrepancies
- Allows you to review the contract with other people and parties involved and request e-signatures directly from Adobe Acrobat or Reader
Using the New Skill
You can use the new skill for a variety of contract types, including credit card and vendor agreements, loyalty programs, purchase orders, and business agreements. For example, a business owner could use the AI to review a partnership agreement with their attorney. A financial analyst can review sales contracts. Consumers could use it to analyze changes in everything from apartment leases to mobile phone plans.
Potential Pitfalls
AI is far from perfect. How do you know that Adobe’s AI is analyzing and interpreting the contract correctly? To address this concern, Adobe says that its AI assistant combines its large language models (LLMs) with the same artificial intelligence and machine learning models behind its Liquid Mode technology.
Data Security
AI is also infamous for training itself on user data. Will your contracts be on the training list? To address this concern, Adobe says that the AI is governed by data security protocols and developed in line with its AI ethics processes. The company promises that it will never train its generative AI models on customer data and restricts third-party LLMs from similar training.
Conclusion
Adobe’s new AI-powered contract analysis tool is a game-changer in helping simplify the experience of understanding complex contracts. With its ability to summarize information, suggest questions, and find differences between multiple versions, it can make it easier for customers to navigate the often-complex world of contracts.
FAQs
Q: What is the cost of the AI Assistant for Acrobat?
A: The AI Assistant for Acrobat is a $5 per month add-on for the paid Adobe Acrobat and the free Acrobat Reader.
Q: What types of contracts can I use the new skill for?
A: You can use the new skill for a variety of contract types, including credit card and vendor agreements, loyalty programs, purchase orders, and business agreements.
Q: Is the AI perfect?
A: No, AI is far from perfect. However, Adobe’s AI assistant combines its large language models with the same artificial intelligence and machine learning models behind its Liquid Mode technology to offer a more accurate analysis of the document’s structure and content.
Q: Will my contracts be used to train the AI?
A: No, Adobe promises that it will never train its generative AI models on customer data and restricts third-party LLMs from similar training.
