By Sukanya Ganesh — Aug 28, 2023

📝 Revolutionizing Contract Management With AI

Lexion AI - how Natural Language Processing (NLP) is making it more efficient to understand contracts.

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Lexion AI - making contract management less time-consuming

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Lexion AI - making contract management less time-consuming

Lexion AI is an advanced contract management system powered by artificial intelligence. By automating the time-consuming process of extracting important phrases and clauses from a wide range of documents, it provides a solution for attorneys, contract managers, and business professionals. However, contract parsing is just one aspect of Lexion AI. It involves understanding them in a way that benefits enterprises.

Natural Language Processing (NLP), an area of artificial intelligence that focuses on the interface between computers and human languages, lies at the core of Lexion's capabilities. Lexion's NLP algorithms are skilled at deciphering the complex contractual language. Salesforce, NetSuite, and Slack are just a few of the platforms that organizations depend on that Lexion smoothly interacts with. This makes it possible to manage contractual data in a way that is more organized and consolidated.

Lexion places a high priority on security because contracts frequently contain delicate and private information. To guarantee that user data is kept secure, the platform uses strong encryption techniques, frequent audits, and the best practices in data security.

Lexion AI is evidence of how technology is transforming the legal industry. Contracts will get ever more complicated as firms develop, making AI-driven products like Lexion essential.

The company was founded in 2019 by Emad Elwany, Gaurav Oberoi, and James Baird. To date, they have raised $35.2 million.