Adobe has unveiled groundbreaking generative AI features in its Acrobat AI Assistant, designed to enhance contract analysis for both businesses and consumers. These innovations empower users to swiftly decode complex terms, compare multiple agreements, and verify contract details with improved efficiency.
AI-Powered Contract Intelligence
Contracts are vital for business operations and consumer interactions; however, their intricate language can be challenging to navigate. A recent survey revealed that nearly 70% of consumers have signed contracts without fully comprehending the terms, while 64% of small business owners have opted against signing agreements due to uncertainty in understanding.
“Customers open billions of contracts in Adobe Acrobat each month, and AI can transform their experience,” said a company representative. “We are introducing new functionalities in Acrobat AI Assistant to enhance contract intelligence, making it simpler for customers to understand complex documents and providing verified citations, all while ensuring data security.”
Key Features of Acrobat AI Assistant
The newly introduced AI-driven contract intelligence capabilities in Acrobat include:
- Automated Contract Recognition: The AI Assistant identifies contracts, even in scanned formats, generating summaries and emphasizing key terms.
- Clear Explanations with Citations: Summaries produced by the AI come with clickable citations, enabling users to verify contract terms directly within the document.
- Version Comparisons: Analyze up to 10 contracts simultaneously to spot discrepancies, inconsistencies, and critical changes.
- Secure Sharing and E-Signatures: Users can review and sign contracts within the same platform, facilitating streamlined collaboration and approval processes.
Adobe assures that the Acrobat AI Assistant follows stringent data security measures. The AI models are not trained on customer data and do not allow third-party language models to use such data for training. This enables the AI Assistant to apply proprietary AI and machine learning technologies to accurately interpret document structures and content.
Launched in February 2024, Acrobat AI Assistant has seen rapid adoption, with customer interactions in the app doubling from one quarter to the next by the end of 2024. The contract intelligence features are available across desktop, web, and mobile platforms, initially in English, with plans for support in additional languages on the horizon.
The AI Assistant can be accessed as an add-on for both free and paid Acrobat users, available at a subscription rate of $4.99 per month.
