See in a visual matrix the relative riskiness of your contracts. The image conveys what this software vendor explains as 'Risk Assessment Mapping'. 'When teams add a new contract to Contract Insight, VISDOM can help identify potential risk by systematically analyzing document text, allowing the system to identify both "good and bad" language in a contract per a rules-based sentiment. Graphic-based risk rating and mapping features of AI based contract management software provide valuable insight for assessing contract risk. An intuitive graphic such as a risk assessment matrix presents risk probability patterns and potential risk exposure. This level of risk visibility can aid teams in making informed risk management decisions with less hesitation.' Click here for the full text from Cobblestone Software .

Adequate training must accompany software implementations.This comment applies not just to machine learning applications but to all software applications. 'The next important factor to consider is the amount of training your AI tool requires. You should not have to second guess how your AI works, it should be intuitive enough to interpret what you are asking of it.' Click here for the full text from Wolters Kluwer.

e-billing software can help enforce law department policies. 'Even in BAU times [business as usual], spend management is an important strategic tool. ABF [a client of the vendor, BusyLamp] started their eBilling journey in 2012. [a member of the ABF legal department] reflects, 'It was a very manual process. We spent a lot of money but didn't know with which firms, how many firms, where in the world, who was instructing the firms or how much we were spending!' They also had a suspicion that the rule, 'legal must be notified before engaging law firms' was not being followed. Using eBilling.Space has allowed them to control this more effectively.' Click here for the full text from BusyLamp.

Ultimately, you have to shift people's thinking to bring about change. This piece emphasizes change management for technology, but every management redirection in a law department raises similar challenges. 'Unfortunately, implementing any new technology-even one with significant benefits-inevitably presents a change management challenge. After all, it's human nature to resist anything new or disruptive. That's probably why many organizations continue to lag when it comes to managing change that drives the adoption of new legal technologies. In fact, the 2020 ACC Legal Operations Maturity Benchmarking Report found most in-house functions are at the beginning or in the middle of the maturity curve when it comes to change management.' Click here for the full text from Wolters Kluwer.