Azure OpenAI Powered Contract Analyze Chabot: 2-day Implementation

Overview and challenge: Contract review and analysis are essential responsibilities for legal and business development professionals, requiring a comprehensive understanding of agreement terms, risks, and opportunities. However, traditional manual approaches to contract review often prove to be time-consuming, error-prone, and expensive. As a solution, many businesses are turning to artificial intelligence (AI) to optimize and streamline the contract review and analysis process.

Solution: Bitscape's Contract Analyzer Chatbot

Features:

1. Summarization - Summarize or get a quick overview of contracts in no time.
2. Risks Assessment and Compliance Check - Identifying potential risks and ensuring regulatory compliance can be meticulous and prone to errors.
3. Language Complexity - Simplifying complex legal language used in contracts to help understand potential misunderstandings.
4. Clause Interpretation Delays - Easily seek clarification on specific clauses.
5. Finding Crucial Information and compare - Retrieve specific information from a contract or compare with another contract.
6. OCR Scanning - Scan contracts with OCR to make both digital and physical documents fully searchable.
7. Auto-Extract Data and Clauses - Automatically extract data and clauses based on context and semantic meaning.
8. Automatic Clause Identification - Automatically identify clauses, fields, and critical data in any type of contract.
9. Find and Track Clauses - Find and track clauses in your own contracts or third-party agreements.
10. Contract Q&A - Interactive Chatbot with conversational feature.

Technology used:

1. Power Apps
2. Power Automate
3. Azure OpenAI
4. Azure Form Recognizer

Contract/Document Storage:

1. Azure Blob
2. SharePoint
3. Any other storage
4. Local storage (only upload)

Prerequisites/subscriptions required:

1. Power Apps environment
2. Azure instance

PS: If you don't have these, don't worry, we can assist you in creating them