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Is GenAI a Threat to CLM Providers?

Publisher IDC
Published Mar 26, 2024
Length 5 Pages
SKU # IDC18658469

Description

Is GenAI a Threat to CLM Providers?


The IDC Perspective discusses the impact of generative artificial intelligence (GenAI) on contract life-cycle management (CLM) providers. It highlights the potential of GenAI to streamline CLM processes, automate contract creation, and identify potential risks. However, it also warns of potential risks such as overreliance and biased outputs. The document concludes that while GenAI can enhance the CLM experience, human expertise and adaptation are crucial for responsible and ethical implementation."GenAI's ability to understand complex legal language and generate contract clauses can streamline many CLM processes, yet it introduces potential risks such as overreliance and biased outputs." — Patrick Reymann, research director, Procurement and Enterprise Applications at IDC.

Please Note: Extended description available upon request.

Table of Contents

5 Pages
Executive Snapshot
Situation Overview
GenAI as an Additive, Complementary Technology That Requires Oversight
GenAI as a Technology That Is Disruptive to CLM Providers
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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