- Docusign will summarize your contracts before signing them to ensure you understand them
- Businesses can also use AI to speed up preparation and reduce the risk of errors.
- Docusign AI is also available directly in ChatGPT via MCP
Docusign has jumped on the AI bandwagon with a useful tool to help contract signers understand the terms of what they’re agreeing to in plain English.
Generative AI translates complex terminology into plain English summaries, and users can also interact with documents in a question-and-answer format to explore the finer details.
In addition to improving clarity, the design software company says its new AI assistant can improve consumer confidence: “Complex agreements are now easier to understand and people can sign faster, with confidence. »
Docusign uses AI to summarize contracts
The company’s AI-powered e-signature capabilities, powered by its Intelligent Agreement Management (IAM) platform, address two key areas. The first, described above, responds to “dense legal language which slows down signatories”.
DocuSign says that today, about three in five consumers admit to signing contracts they didn’t fully understand. Three in four people said they would feel more confident if they were provided with AI-generated summaries.
But there’s also a business-focused upgrade to handle the “manual, error-prone work of document preparation.” To do this, Docusign’s AI can automatically identify agreement types, verify recipients, and place signature and data fields with a single click, all with the aim of reducing preparation time and the risk of errors.
Docusign’s AI engine (Iris) is said to provide better enterprise-grade accuracy, automation, and security than general-purpose LLMs.
“AI is transforming the way people work, but agreements require an extra level of clarity and trust,” explained Mangesh Bhandarkar, vice president of product management at Docusign. “This directly leads to faster completion rates and a more reliable process.”
More broadly, the IAM platform is also available to ChatGPT users through the MCP so users can create and analyze contracts within the popular AI chatbot interface.
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