Neural network models analyze tacit enterprise knowledge for scale [CASE STUDY]
100+ year-old Fortune 500 company gains 9x productivity and 90% cost savings
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Bottleneck
A global Fortune 500 conglomerate had a true bottleneck in contracts analysis. Even senior members of the procurement staff were spending 2-3 hours on draft contract review. The company understood that scaling the current process was impossible.
Uncorking machine learning
The company sourced an AI-enabled solution to eliminate the bottleneck. Existing contracts were used to build training datasets. Edgevere's Nia Contracts Analysis was used to tag the clauses and terms for machine learning; the data created was the input to their advanced neural network models.
Human in the loop
Edgeverve, an Infosys company, also set up a framework for SMEs to review machine-tagged sentences to provide feedback that would help improve accuracy with time. An Infosys AI engineer was constantly tuning the AI model and triggering model creations based on feedback from the client’s legal and procurement teams.
Outcomes
The client gained 9x improvement in productivity with automated contracts analysis and risk review
Automating contracts review, increased capacity, improved contracts management processes and achieved over 90% cost savings.
