As part of our approach to LIBOR document review, we utilise AI-powered contract analysis, extraction and review software.
The AI tool identifies and accurately extracts targeted provisions from contracts and similar documents for our lawyers, creating expediency and accuracy during the review process. The tool has various project management functionalities, including workflow and task allocation, document tagging and data visualisation for reporting purposes allowing us to provide our clients with real-time progress updates.
During a recent LIBOR review project, the tool, along with a detailed guidance note, enabled us to work more efficiently resulting in an average 30% time saving when compared to a fully manual review process.
For a demonstration of the key features of our LIBOR transition process, including how the AI is integrated within our approach of managing large scale and strategic projects, please see the video below.