AI bots and apps are available for contract analysis.
Two Contract analysis apps are:
Legal Robot: https://www.legalrobot.com/
Bloomberg Law has a vast contracts database that it can compare your proposed contract with to make changes or flag errors.
Legal Robot makes the following promises:
Ensure Fairness. Improve Transparency. Sign With Confidence.
INSTANT ERROR CHECK
Our automated contract review helps you understand complex legal language and spot problems before you sign, without the time and cost of hiring an attorney.
COMPARE & COLLABORATE
Evaluate your contract against standards and across industries or jurisdictions, then collaborate with your team of legal professionals throughout negotiation.
FAIRNESS & RISK ANALYSIS
Our algorithms assess fairness and risk so all parties can be clear on the terms and confident about what they are signing.
Legal Robot uses deep learning to understand legal language. It then compares the language with other contracts to identify boilerplate vs. custom, measure the complexity and readability of the language, and identify the responsibilities, rights, and terms of an agreement.
The information is presented in a way that encourages exploration of the contract in a way that is far more interesting and understandable than legal language. This allows people to quickly interpret the components of the contract, quantify specific risks, as well as identify and resolve defects so people can be more confident in what they sign.