Adobe unveils AI-powered contract insights in Acrobat AI

Adobe has announced the introduction of new intelligent contract capabilities within its Acrobat AI Assistant, aiming to simplify the handling of contracts.

The newly enhanced features incorporate generative AI designed to assist customers in understanding complex contract terms and identifying discrepancies between multiple agreements. This development seeks to make it easier and faster for users to comprehend and verify the content of these documents.

Contracts such as credit card agreements, vendor contracts, loyalty programs, and purchase orders are commonly encountered by both consumers and businesses. The inherent complexity and length of these documents often lead to difficulties and increased time required to understand them fully. According to a survey conducted by Adobe Acrobat, close to 70% of consumers have signed agreements without fully knowing all the terms, and 64% of small to medium business (SMB) owners have avoided signing contracts due to a lack of confidence in their understanding.

Abhigyan Modi, Senior Vice President of Adobe Document Cloud, commented on the release: "Customers open billions of contracts in Adobe Acrobat each month and AI can be a game changer in helping simplify their experience. We are introducing new capabilities to deliver contract intelligence in Adobe AI Assistant, making it easier for customers to understand and compare these complex documents and providing citations to help them verify responses, all while keeping their data safe."

The new capabilities in Acrobat AI Assistant leverage contract intelligence to help business owners pinpoint key dates in vendor contracts or prepare documents for legal review. Finance teams can expedite their review processes for sales contracts, and marketers are enabled to trace changes in work scopes and locate deliverables in partnership agreements. Consumers also benefit by swiftly finding occupancy policies in leases, identifying charges in mobile plans, or comparing venue amenities for events.

Adobe Acrobat offers a comprehensive suite of features designed to assist with the understanding, reviewing, and signing of contracts all within one application. These include generating a contract overview, highlighting key terms, providing straightforward summaries, and suggesting relevant questions tailored to a specific document. It also allows users to easily spot differences across up to ten contracts, including scanned documents, for consistency and discrepancies.

The new capabilities also focus on providing verified, clear language summaries and citation support to assist users in swiftly navigating sources and verifying all provided responses. Furthermore, features for secure sharing and obtaining e-signatures are integrated within the application.

The Adobe Acrobat AI Assistant adheres to strict data security protocols, aligning with Adobe's AI Ethics guidelines, ensuring that customer data is not used to train third-party language models. The assistant utilises the same advanced AI and machine learning models that power Adobe's Liquid Mode, enhancing the accuracy and reliability of its contract intelligence capabilities.

The intelligent framework underpinning the new features relies on extensive prompt engineering, providing more relevant and precise responses to contractual queries.

With more than 650 million monthly active users and over 400 billion PDF opens each month, Adobe Acrobat remains a pivotal tool in digital document management. The introduction of the Acrobat AI Assistant in February 2024 has been transforming document handling and saw an increase in customer interactions within the app throughout the latter part of the year.

The new contract capabilities are available as an add-on feature for USD $4.99 per month, with availability on desktop, web, and mobile in worldwide English, with additional languages anticipated.