I’m excited to announce that Lexion made this year’s Intelligent Applications Top 40 list! Winners are chosen by the top venture capital firms (Khosla, Madrona, Goldman Sachs, A16Z, Sequoia, and more) – a great honor from the best investors in AI!
I’m especially proud because it’s not just an endorsement of our investments in machine learning but also in making them practical and useful for real people.
Intelligence that understands contracts
Lexion’s intelligence is in our document understanding platform: A homegrown, state-of-the-art NLP system capable of extracting structured information like parties, dates, and legal terms from contracts. Today we can pull 120+ terms from dozens of contracts and rapidly train the system to understand any long-form document (like we did for UIPath).
An application to supercharge legal work
But how do we make this useful? Lexion’s application is an incredibly easy to use contract management system that uses AI to help in-house attorneys produce and manage contracts:
- Auto-tag and organize contracts by parties so they are easy to find (even via Slack!)
- Instantly generate a calendar of renewals and expirations so no deadlines are missed
- Identify all critical clauses in a contract so it’s easy to report on risk and compliance
- Auto-file any newly signed contract so you always have a complete source of truth
- And so much more
This intelligent application saves legal teams many hours of manual, repetitive work and enables them to accelerate their legal review and, ultimately, double their efficiency. This is practical AI in action: Freeing up sophisticated knowledge workers from the drudgery of low-value tasks so they can focus on strategic high-value work (and be happier!).
An incredible team to make it so
The true honor of this award goes to our talented machine learning and core application engineering teams.
In the past few years, they have pushed the envelope on what’s possible, publishing three incredible papers at top AI academic conferences, releasing dozens of cutting edge features that lawyers love (like our new Word plugin), and connecting contracts with everyone in the company who needs them (like helping sales and legal play nice together). Kudos! ❤️
And last but not least: a huge thank you to our customers for allowing us to work together to define AI's future. We would not have earned this recognition without you. 🙏
Cheers,
Gaurav
