Ai Everything and Forbes AI Recognize Icertis' Use of
Artificial Intelligence to Solve Previously Intractable Contracting
Challenges
DUBAI, UAE, Oct. 23, 2019 /PRNewswire/ -- Icertis, the
leading provider of enterprise contract management in the cloud,
was named Best Application of Artificial Intelligence (AI) in
Contract Management at the Ai Everything and Forbes AI Brave
Awards. The acknowledgment underlines Icertis' success in infusing
AI in its category defining Icertis Contract Management (ICM)
platform. ICM helps customers digitally transform how they manage
their contracts worldwide and solve previously intractable
contracting challenges with the transformative power of modern AI
technology.
For the first time in history, contracts are being digitized.
With arguably one of the largest, varied and relevant contract
repositories in the world with more than 6.5 million contracts
representing more than $1 trillion of
managed contract value, Icertis is using AI to turn these
once-unstructured documents into live, strategic assets for its
customers. In addition, with Icertis' AI
applications built on the ICM platform, companies can not only
quickly digitize third-party contracts without manual review, but
also analyze past negotiation history to gain insights for
improvement, and unleash deep data visualization capabilities that
provide unprecedented visibility into contract relationships and
performance.
"We're honored to receive this award from Ai Everything, an
organization dedicated to working with innovators and companies
globally to uncover ground-breaking solutions employing artificial
intelligence technology," said Monish Darda, CTO and Co-founder of
Icertis. "Most recent applications of AI in contract management
have focused on the legal aspects of contracts and clauses – we
believe that because we deeply participate in the business process
through contracts, we are uniquely positioned to unleash the
transformative power of AI for our customers. And with the
confluence of AI with distributed ledgers/blockchain technology,
this paves the way for us to redefine this space."
The data in the millions of contracts Icertis manages represents
thousands of contract types and templates, and a taxonomy curated
from hundreds of thousands of clauses – all mapped to customers'
distinctive semantic structures. The ICM platform leverages AI to
better understand the meaning of clauses and to identify what
contract language could pose risks or opportunities to the
enterprise, creating value where there was none before.
"Icertis embodies the break through innovation this award
celebrates. By deeply embedding AI in their platform, Icertis is
providing unprecedented visibility into contract relationships and
performance," said Trixie LohMirmand, Senior Vice President, Dubai
World Trade Centre. "The calibre and quality of our entrants was
impressive, but Icertis stood out as a business that is
continuously striving for innovation, exemplified through its
cutting-edge solutions and approach to contract management
challenges, which continue to grow in complexity."
Hosted in association with Forbes AI, the Ai Everything Brave
Awards celebrate the very best in AI adoption and innovation among
top global companies; recognizing exceptional lab-to-live
solutions, industry applications and pilot projects in AI. This
recognition is the latest success for Icertis, and follows this
year's IACCM Innovation and Excellence award for 'Outstanding
Service Provider' in EMEA, providing further evidence that Icertis
is driving innovation within contract management.
Ai Everything Brave Awards Dubai, 2019: Ai
Everything is hosted by the UAE's National Program for Artificial
Intelligence with the support of global association partners
International Telecommunication Union (ITU) and the World
Intellectual Property Organization (WIPO), in strategic partnership
with Smart Dubai.
About Icertis
Icertis, the leading enterprise contract management platform in
the cloud, solves the hardest contract management problems on the
easiest to use platform. With Icertis, companies accelerate their
business by increasing contract velocity, protect against risk by
ensuring regulatory and policy compliance, and optimize their
commercial relationships by maximizing revenue and reducing costs.
The AI-infused Icertis Contract Management (ICM) platform is used
by companies like 3M, Airbus,
Cognizant, Daimler, Microsoft and Sanofi to manage 6.5 million
contracts in 40+ languages across 90+ countries.
Icertis Media Contact:
Haley Flanagan
Corporate Communications Manager
Icertis
CorpComm@icertis.com
Logo:
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