Onit to Lead Discussion on Artificial Intelligence for Contract Management at Legalweek(Year)

Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that experts from Onit and Adobe will present on AI and contract management at the first session of 2021 for Legalweek(year). The CLE-eligible virtual discussion, scheduled for Tuesday, February 2, at 3:45 p.m. EST and titled “The Potential Impact of AI on Managing Contracts,” will center on the challenges of contract drafting and review and how AI and automation can address them.

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The pandemic has underscored the growing need for efficiency and cost savings for corporate legal departments. Contract management is a process ripe for digital transformation, as manually reviewing and drafting contracts can take up to 70% of an in-house legal department’s time. When AI is properly and strategically applied, the results can be substantial. For example, in a recent study, new AI users became 35% more efficient with their time and 51.5% more productive and users discovered cost reductions of 33% related to contract processing.

A panel of experts will tackle this topic, examining the impact of AI and automation on contract lifecycle management. They’ll also discuss how lawyers can dramatically streamline many activities typical of contract work, such as redlining, comparing clauses to corporate standards and ensuring that fine details comply with corporate policy. The speakers include:

• Stasha Jain, Vice President of Legal and Compliance for Onit, an attorney with extensive experience for organizations including Onit, ZS Associates, Hewitt Associates and Venture Law Group
• Nick Whitehouse, General Manager of the Onit AI Center of Excellence, an AI expert focused on digital transformation for legal organizations
• Jean Yang, Vice President of the Onit AI Center of Excellence, a technologist who began her career as a solicitor and was named the Emerging ICT Leader of the Year 2019
• Letitia Hsu, CIPP/US, Associate Legal Counsel, Adobe Inc., in-house counsel within Adobe’s product legal group with experience in privacy, data security and intellectual property matters

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