In the drive for greater efficiency, law firms and in-house counsel are exploring and using contract automation programs that stand to redefine the practice of corporate law.
While basic forms of contract automation have been present in Canadian corporate law since the 1980s, at least, the past couple of years have seen much more sophisticated systems emerge.
These include Contract Express (produced by Lexpert publisher Thomson Reuters), Kira Systems, Korbitec's ACL and RAVN, and they are being increasingly adopted by Canadian corporate-law firms.
Actual lawyers won't be replaced by artificial intelligence, of course; but the changes that cognitive computing and contract automation will bring to the business of Canadian law will be profound.
Lexpert contributor Anthony Davis reports at www.lexpert.ca.
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