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50 possible by advanced artificial intelligence ( AI ), machine learning and cloud technology . “ We are looking at how can we get the most information out of the data for our clients in the quickest , easiest way , and in a way that meets their security concerns ,” Brock says , “ So we bring all of these technologies to the table , we overlap them , we layer them so that we can , for example , dig into a vendor paper contract and get to the issue of organisation of liability . Instead of having to look for a certain pattern or group of words , our analytics on the platform can actually dig through all those parts and pieces and pull them up on the supplier .” This immediacy is compounded by the platform ’ s ability to learn and utilise new information , enabling clients to leverage a flexible system that can be tailored to their unique requirements . “ And we ’ re constantly looking for the next new thing ,” Brock adds , “ The thing that might help give us a better take on the analytics , the thing that might help us report that information better or more quickly .” Seal is currently developing a solution that can assess and report the level of risk in a contract , offering immediate insight for contracts that require additional assessment . “ We find our clients are chomping at the bit to get their hands on this . It ’ s something that will help them to improve their own processes , and repurpose their staff so they ’ re focusing their interest or their review time on those risky positions .”
With automation comes concerns about the replacement of human staff with efficient digital equivalents , particularly where the increasingly powerful and capable AI is concerned .
“ Instead of hiring 10 people to extract information from your contracts , you can simply load them into Seal and get that same level of review and that same level of insight in hours as opposed to weeks ”
— Stuart Brock , Director at Seal Software
MARCH 2019