Apparently, I’m not the only person who likes to quote that great American philosopher Yogi Berra! 😉 This article from Compliance discusses how the emergence of contract analytics mirrors a similar analytics emergence in eDiscovery.
In their recent article Analytics: Déjà vu all-over again…The Emergence of Contract Analytics, Compliance discusses how the emergence of analytics, automation and artificial intelligence/machine learning algorithms (AI) have revolutionized how eDiscovery is conducted and contract analytics is now poised to similarly transform the way the industry analyzes contracts.
We’ve seen Concept Clustering (to group similar documents together), Email Thread Identification (to avoid reviewing the same emails repeatedly) and Language Identification (to identify potential foreign language review needs) become standard components in a typical eDiscovery workflow and then Magistrate Judge Andrew Peck’s ruling over nine years ago in the Da Silva Moore case approving the use of “computer-assisted review” (my second time to mention him today!) was a catalyst for the proliferation of Predictive Coding algorithms. To get the most out of the technology, however, you need knowledgeable and experienced eDiscovery Subject Matter Experts (SMEs).
So, how is the use of these technologies transforming contract analytics? And what should you look for in a contract analytics provider? The answers to these questions (and more) are available in their article here. Is your organization fully leveraging contract analytics to manage its contracts? Please share any comments you might have or if you’d like to know more about a particular topic.
By the way, Compliance has a new website design! Simple, clean and easy to navigate. Check it out here!
Disclosure: Compliance is an Educational Partner and sponsor of eDiscovery Today
Disclaimer: The views represented herein are exclusively the views of the authors and speakers themselves, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.