Some business areas have made a bigger progress than others, as if we compare Financial Services, where AI is a reality, to the Legal sector, where it is just beginning.
However, datasources as SEC’s Edgar (public), Lawinsider (propietary) and many other initiatives have triggered the inclusion of NLP in Legal Platforms, including of those for Contract Lifecycle Management (CLM), as Docux, Docusign, Juro, etc.
Low latency NLP in Legal CLMs
Contract Lifecycle Management requires a quick interaction, real-time response to the user requests. Although some asynchronous batch-processing may be relevant, if a user uploads a document to a CLM, they will look for quick NLP insights (2s–4s) on their documents.