It's Day 4 of 20 of our series in the use of Generative AI for Contracts.
Its been a month & feels like it's been ages (so much has happened in the world of AI, while we were busy following up with all the fantastic conversations from LegalWeek NY). 1 month in AI time = 3 years in normal world!
The use of Generative AI has garnered both enthusiasm and concern from industry leaders. While many organizations are starting to see the transformative potential of AI technologies like ChatGPT, others remain skeptical about their applications, especially when it comes to privacy and data confidentiality. In this article, we'll dive into the innovative approach ContractKen is taking to ensure the secure, safe, and private use of Generative AI in contract drafting, review and negotiations.
As you may know, ChatGPT, the shining star of the Generative AI revolution, has been reportedly banned in many organizations. A growing number of leaders are openly warning against the use of large language models (LLMs) for official work, while others are busy creating policies to guide employees on the do's and don'ts of using AI technologies. Unfortunately, many of these reactions and approaches are knee-jerk responses and don't offer long-term solutions for incorporating AI into the legal landscape.
ContractKen's Vision: A Robust, Trustworthy, and Transformational Approach
At ContractKen, we believe that there has to be a more robust and trustworthy way to leverage transformational AI technologies like GPT. The key is to develop a Generative AI-driven product for contract drafting, review, and negotiations that incorporates a built-in 'Moderation Layer.' This layer should enable law firms and legal departments to address privacy and data confidentiality concerns while taking advantage of AI's immense potential.
Centralized controls definition & configuration:
The Moderation Layer should enable organizations to define controls centrally, specifying what information should or should not be shared with LLMs. This approach should be tailored to each firm's or client's unique requirements, allowing them to determine what they consider to be confidential or private information. It could be any of the following:
The key is to have a system that allows each customer to define sensitive information as they deem fit, not take a cookie cutter response from the vendor
Application of controls where the rubber meets the road: The interface for accessing LLMs should not be ChatGPT itself, but rather a product that integrates with widely-used tools like Microsoft Word. This integration would ensure that safeguards are in place to prevent any data leakage at the source. Having the moderation layer operate within Word is a critical UI (User Interface) choice as it brings firms standards and controls right where most of contract work happens. Differential controls could be applied to different types of contracts, different clients.
Empowering associates: With the Moderation Layer in place, legal professionals should be able to leverage the benefits of LLMs without the looming threat of inadvertently making a costly mistake. By implementing proper safeguards, associates can harness the power of AI to improve their work's rigor, efficiency, and consistency.
You shouldn't have to wait on someone's list to start exploring how Generative AI can revolutionize your legal practice. With ContractKen's innovative approach, you can begin to harness the power of AI today while safeguarding the privacy and confidentiality of your clients' data.
At ContractKen, we understand that the future of legaltech lies in the responsible adoption of Generative AI technologies. By embracing the Moderation Layer, legal professionals can not only enhance their work but also build a more efficient, consistent, and data-driven practice. Moreover, this approach fosters a sense of trust and security, ensuring that law firms and their clients can experience the full benefits of Generative AI without compromising privacy and confidentiality.
The path forward is clear: ContractKen's innovative, privacy-preserving approach to Generative AI represents the gold standard in legaltech. The integration of the Moderation Layer, tailored controls, and seamless interfaces with widely-used tools like Microsoft Word marks a turning point for the industry.
Skip all the waiting lists and reach out to us at email@example.com to get started with designing your custom moderation layer for using Generative AI for contract.
Update: We've rolled out the moderation layer to our beta customers. Read all about that here: https://www.contractken.com/data-privacy
Check out all our posts in this series: https://www.contractken.com/blog-category-generative-ai-for-contracts
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