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Agiloft announced the addition of its new Agiloft AI Engine, complete with prebuilt AI Capabilities for contract management and an open AI integration that allows customers to incorporate custom-built AI tools into the no-code platform.
"Our new AI Engine provides out-of-the-box AI tools for contract management and also gives customers the ability to create completely custom AI capabilities to drive efficiency, visibility, and security in commercial processes," said Colin Earl, CEO of Agiloft.
Major product updates include:
- Contract automation for AI-enabled CLM: The Agiloft AI Engine adds advanced artificial intelligence to Agiloft's contract lifecycle management software. Key components of the Agiloft AI offering include out-of-the-box AI Capabilities that solve common problems in contract management, including metadata and clause extraction from contracts and other documents, document classification, contract risk scoring, and more. Prebuilt machine learning models also enable users to implement their own custom AI tools with existing data. Additionally, the open AI Engine features an integration template to bring in machine learning models from Amazon SageMaker and Google TensorFlow to build entirely custom AI tools on Agiloft's no-code platform.
- Advanced translations with Google Translate: Integration with Google Translate allows users to translate new or changed field labels from any language supported to any other language.
- MS Dynamics integration automates commercial processes across the enterprise: Agiloft's integration with MS Dynamics furthers Agiloft's ability to connect data across departments. This adds to Agiloft's list of integrations with major business applications, such as Salesforce, Jira, and MS Office.
- Alexa integration drives productivity: Agiloft's Alexa integration utilizes voice commands to boost productivity and allow hands-free connectivity with the Agiloft platform. The integration lets users interface with Agiloft directly, including search, reading, or editing fields and records as well as counting. For example, "Alexa, how many contracts are due this month?" In addition to the Alexa skills included in the release, Agiloft customers can add their own custom skills as needed.
- GUI upgrades to enhance the user experience: The new release also includes upgrades to the Agiloft graphic user interface (GUI) to improve productivity and user experience, including resizable charts and dashboards, summary layout preview, chart drill-down enhancements, and more.
"With our AI Engine and included AI functionality, Agiloft has a unique position in the market," said Christian Thun, VP of engineering at Agiloft. "Agiloft is the only no-code CLM platform today that provides open AI capabilities. The automation and configuration opportunities with Agiloft are unmatched, and we are looking forward to further expanding our AI functionality in 2020."