The use of generative artificial intelligence
(Generative AI) for reviewing and/or drafting
commercial contracts is on the rise. While using Generative AI in
this context may seem appealing, it presents a myriad of risks that
deserve consideration. Even where those risks have been carefully
considered and balanced, commercial contracts which have been
drafted (or reviewed) using Generative AI should still be subject
to legal review and sign-off, before you sign on the dotted
line.
Generative AI in commercial contracting
Aside from being the latest buzzword, Generative AI refers to AI
systems that create new content based on patterns learned from
existing data. In this context, Generative AI includes advanced
tools for contract automation and review, document/contract
summaries and scenario simulation.
