Adobe Acrobat is enhancing its artificial intelligence (AI) assistant with a new feature aimed at simplifying the review of complex contracts. The feature, named Contract Intelligence, was unveiled on Tuesday and introduces an innovative workflow for the AI chatbot whenever a contract is accessed through Acrobat. This capability enables the software to extract and highlight key information that might otherwise be overlooked in lengthy documents. Notably, in November 2024, Adobe released a paper outlining the capabilities of the SlimLM AI model, which is designed to operate directly on smartphones and handle document processing tasks.
Adobe Acrobat Introduces AI-Powered Contract Intelligence
In a blog post, Adobe detailed this new capability as a response to insights gathered from the Adobe Acrobat Contract AI survey, conducted in January in collaboration with research firm Advanis. The survey involved 1,020 participants, including U.S. consumers, small business owners, knowledge workers, and technology leaders.
The findings revealed that approximately 70 percent of U.S. consumers confess to signing contracts without reading them. This tendency was echoed by 62 percent of small business owners, 61 percent of knowledge workers, and 63 percent of technology leaders surveyed.
According to Adobe, the Contract Intelligence feature addresses these concerns by enhancing the ability to navigate through contract information. This AI tool automatically identifies documents as contracts upon opening, a function that also applies to scanned materials.
Upon identification, the AI assistant creates a concise contract overview and presents key terms and clauses with a single click. Additionally, it simplifies the contract language to improve understanding and readability. The feature goes further by suggesting document-specific questions, allowing users to extract more detailed information.
Moreover, Contract Intelligence offers clickable citations next to the summaries and responses generated by the AI. These citations enable users to trace the source of the information for verification purposes. The new feature also facilitates comparisons between up to 10 different contract versions, accommodating scanned documents as well.
The Contract Intelligence feature is currently available for users of the Acrobat AI Assistant add-on, accessible to both free and paid subscribers. It is integrated into the desktop application, web client, and mobile apps, although it currently supports only the English language. The add-on is priced at Rs. 398 per month.
