Docusign wants to use AI to turn your complex contracts into plain English (www.techradar.com)

DocuSign has launched a new AI-driven tool to transform complex legal contracts into plain English summaries, making it easier for users to understand terms before signing. This initiative addresses a significant issue, as approximately 60% of consumers admit to signing contracts they don't fully comprehend, and 75% express that AI-generated summaries could boost their confidence in the signing process. The AI feature, integrated within DocuSign’s Intelligent Agreement Management (IAM) platform, also allows users to engage with documents in a Q&A format, enhancing user interaction and clarity. Beyond improving clarity for consumers, DocuSign’s AI capabilities streamline document preparation for businesses by automating labor-intensive tasks such as identifying agreement types and verifying recipients. This efficiency aims to reduce errors and preparation time, contributing to a smoother workflow. DocuSign positions its proprietary AI engine, Iris, as offering superior accuracy and security compared to general-purpose large language models (LLMs). With its functionalities now accessible through ChatGPT, DocuSign’s advancements underscore the broader trend of integrating AI to enhance user experience and trust in legal processes, reflecting a pivotal shift in how agreements are approached in the digital age.