New AI Assistant from Adobe Acrobat Makes Understanding Contracts Easier
Adobe Acrobat unveils a unique AI tool to clarify contract language for users, helping them avoid potential traps.
The fine print doesn't make sense? You're not alone. Many people often struggle to understand the terms of the contracts they're about to enter. Adobe Acrobat has seen such situations and has decided to help its users better comprehend contractual terms.
The newly launched "Contract Intelligence Feature" is in its Acrobat software, and the feature is supported by an AI assistant designed to automatically identify whether documents and scanned files contain contract content. It then goes on to summarize complex language, making it easier for users to understand.
A Significant Upgrade
The launch of this feature is a massive upgrade for Adobe in the field of PDF management, with users only required to upload their contract files to Acrobat. The AI assistant takes things up from there. It quickly analyzes the context, extracting key terms before generating relevant questions to help users gain a better understanding of the contract details.
In addition, this AI assistant can compare up to ten different versions of a contract, making sure there's consistency and accuracy among the versions. This helps prevent users from missing vital information in lengthy contracts and fine prints, such as key dates, specific policies, and potential fees.
More users can benefit from this tool because an additional service for its Acrobat AI assistant at a monthly fee of $4.99, available for users with free or paid personal accounts. Currently, this AI assistant has been launched globally on desktop, web, and mobile devices, but it only supports English for now. However, there are plans to add more language options in the future.
Time-Saving Expertise
While AI is not fully 100%, Adobe says that this unique feature is designed to save users time spent trying to understand complex contract content. A recent survey revealed that about 70% of consumers do not fully understand all the terms when signing contracts. This statistic highlights the necessity and urgency of Adobe launching the Contract Intelligence Feature.
According to Abhigyan Modi, head of Adobe Document Cloud, "Every month, billions of contracts are opened in Adobe Acrobat, and the introduction of AI technology will greatly simplify the user experience." Users can expect in-depth views on contracts before signing the dotted lines.
