An extractive AI model for simultaneous cross-lingual, cross-jurisdictional contract analysis

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Modern international businesses face a huge challenge: how to extract the information they need from large, complex sets of contracts that arise from a range of countries and that are written in different languages.No automated tool exists for this task, meaning contract managers typically have to employ teams of legal experts, usually of several different nationalities. The process is slow, expensive and open to error.Our idea is to develop a new, AI-powered tool which will fully automate this process, making business decision-making much faster, cheaper and more accurate. To date, we have developed the underlying AI architecture for this process; we now need to demonstrate it in operation, using a set of real-world data.To do this, we will employ a team of legally-trained experts to label five separate types of contracts across four languages. This labelling will be used to train, test and refine the AI-model. Design and engineering will then bring this model to the point we can deploy it.Successful project delivery is ensured through our deep expertise spanning: AI-business start-up and development, AI-methods for cross-lingual problem-solving, project management, and AI-product delivery and commercialisation.The market for contract-analysis software is £1.21bn/year, and is expected to reach £3.80bn in 2031\. By rapidly incorporating this game-changing new tool into our existing AI-platform, we can capture a substantial part of this market, generating significant UK revenue and new job opportunities.Using Smart funding to demonstrate the power of our new model would allow us to leverage the venture capital funding needed to bring this disruptive technology to market, securing UK leadership in the field of contract-analytics, boosting UK business productivity and growth, and providing tax-payers with a substantial return-on-investment.