Spellbook, a pioneer in generative AI technology for legal professionals, has recently expanded its innovative suite of tools with the launch of ‘Playbooks.’ This cutting-edge feature is tailored to enhance the efficiency and precision of contract review processes specifically geared towards in-house legal departments within corporate settings.
The journey of Spellbook began with the introduction of the first generative AI copilot for contract drafting and review back in 2022. Building on this foundation, the company unveiled an advanced AI agent for law last August, capable of orchestrating complex multi-step workflows seamlessly. Today marks another milestone as Playbooks emerges as a game-changer for legal teams seeking streamlined negotiation approaches.
According to Scott Stevenson, Spellbook’s cofounder and CEO, Playbooks empowers legal teams to encode their negotiation strategies. This enables AI to engage in document negotiations mirroring the style and language preferences of General Counsels (GCs). The primary objective is to expedite contract reviews by up to tenfold while ensuring meticulous attention to detail – a crucial requirement in high-stakes scenarios.
In response to industry demands, which saw an increasing number of in-house legal teams grappling with repetitive contract reviews using standardized criteria, Spellbook pivoted its focus towards developing Playbooks. Collaborating closely with over 160 in-house teams from renowned corporations like Nestlé, Crocs, Fender, BDO Unibank, and WSP Global Consulting has been instrumental in tailoring this new feature.
Stevenson highlighted that existing AI solutions often lacked the personalized touch required by legal professionals dealing with a high volume of deals. By integrating Playbooks into their workflow, both law firms and corporate legal departments can establish consistent benchmarks for contract reviews based on individualized requirements.
The versatility of Playbooks lies in its ability to automate contract review processes efficiently. With predefined rule sets incorporated into the product – which users can customize or expand using AI functionalities – legal teams can swiftly assess contracts against established criteria. Upon evaluation, provisions are flagged as either compliant or non-compliant, accompanied by suggested solutions generated by AI along with user-specified language preferences.
Furthermore, Playbooks allows users to create sets of predefined questions that automatically trigger responses complete with references when executing the playbook. This interactive feature streamlines communication within legal teams while maintaining accuracy and coherence throughout the review process.
Excitingly, Playbooks is now live for all existing Spellbook customers while offering others a seven-day free trial period to experience its transformative capabilities firsthand. The introduction of this innovative tool signifies Spellbook’s commitment to revolutionizing traditional legal workflows through state-of-the-art AI technology tailored specifically for modern-day legal challenges.
Leave feedback about this