InfoTechTarget and Informa Tech's Digital Businesses Combine.

Together, we power an unparalleled network of 220+ online properties covering 10,000+ granular topics, serving an audience of 50+ million professionals with original, objective content from trusted sources. We help you gain critical insights and make more informed decisions across your business priorities.

Unlocking the value of your contract data with AI

Presented by

Allan Cox & Geff Vitale

About this talk

Approximately 60% to 80% of business transactions are governed by contractual agreements. A typical Fortune 1000 company maintains 20K to 40K contracts. Manual contract review by legal professionals is expensive and time consuming. Gartner has predicted that by 2024 manual reviewing of contracts will be reduced by 50%. Deloitte estimates companies can achieve a 60% cost reduction by using intelligence contract analysis. Magellan Contract Analyzer is the process of extracting meaningful business insights from contract data. It is powered by a branch of Artificial Intelligence (AI) known as Natural Language Processing and can analyze thousands of documents in the time it would take a lawyer, procurement manager, or paralegal to review just a single contract.
OpenText™ Vertica™

OpenText™ Vertica™

38219 subscribers166 talks
Powering the World’s Leading Data Disruptors
OpenText has completed the purchase of Micro Focus, including Vertica. Our combined expertise expands our analytics offerings to help customers confidently scale analytics to the largest and most demanding workloads for the fastest predictive insights available on the market.
Related topics