A big 3 management consultant implements a comprehensive AI tool to draft and review contracts. However, the software is largely ineffective out-of-the-box, so the in-house team continues to work on their contracts the old-fashioned way. With mountains of new agreements every day, the firm needs to train their AI tool to improve its accuracy and grow internal adoption.
Axiom sets up a team of 6 lawyers and a team lead to train the AI tool. To harness the full power of the software and warrant consistent use, the firm needs to reach at least an 80% accuracy rate. The Axiom lawyers, all deeply experienced with professional services agreements, review a database of the firm’s executed agreements to tag specific clauses, data points, and custom language from the firm. Over the course of 3 weeks, the Axiom team reviews and uploads hundreds of newly tagged agreements into the AI training program, refining the software’s database.
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.