"For people signing documents like leases or purchases agreements, a new AI feature will make it possible to request an overall summary of the contract and its key terms. Users will also be able to ask questions about the document, which for consumer agreements could include requesting details about cancellation procedures, fees that may apply, relevant timelines, or terms of a warranty."
"In a demonstration for Fast Company, Bhandarkar highlighted how the AI could generate a basic summary of a residential lease, automatically pulling out key terms like the rental period, monthly rent, and landlord and tenant responsibilities for various utilities. The AI also answered questions about other terms like pet fees, including links to relevant, highlighted sections of the document. AI's use in the legal field has been controversial, with some AI legal research and analysis plagued by incorrect answers and AI hallucinations."
Docusign launched AI features that create readable contract summaries and answer signer questions to speed preparation and increase clarity. Users can request an overall summary of leases or purchase agreements and ask specific questions about cancellation procedures, applicable fees, timelines, or warranty terms. The system can extract and highlight key lease terms such as rental period, monthly rent, and landlord or tenant utility responsibilities, and link answers to relevant document sections. Iris AI is trained on a specialized dataset of agreements and designed to provide in-document citations to avoid hallucinations. The feature is not a substitute for formal legal advice.
Read at Fast Company
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