In October, the contract lifecycle management company SpotDraft announced an early-access release of its new generative AI add-in for Microsoft Word, called VerifAI, designed to help lawyers streamline the process of reviewing contracts. Now, SpotDraft is releasing the product for general availability, with the option for anyone to try it free for two weeks.
As I reported here when it was first released, VerifAI uses generative AI to check contracts against user-specified guidelines, written in plain English. It also answers open-ended, contextual and logical questions about contracts.
I posted a How It Works video demo of that early release version in December, with Rohith Salim, cofounder and chief product officer at SpotDraft.
During the early-access phase, more than 250 users from more than 100 companies used the product. In response to their feedback, SpotDraft has made three functional enhancements to the product:
- They have enabled users to share their personal review guides with colleagues or friends, a change from the earlier version in which each guide was unique to each user.
- They have built the ability to use the Ask AI chatbot while running the review guide. This was previously two separate functions.
- They have built the ability to see multiple references to the guideline the user is checking in a contract.
In addition, they have made the product fully self-serve. Previously, users had to book a meeting to be onboarded. Users can now go in on their own and start using VerifAI from day one with minimal setup.
“The product is deliberately designed to be super easy to use and set up,” Udit Misra, director of growth and product marketing, told me.
VerifAI is a standalone product that requires no other SpotDraft subscription. SpotDraft says it works out-of-the-box, with no training required for users.
As I noted, anyone can try the product for free for two weeks. After the free trial, a subscription is $60 a month.
For a more complete description of VerifAI, see my prior post and the How It Works demo:
- CLM Company SpotDraft Unveils Generative AI Contract Review Add-In for Word (and For A Time It’s Free).
- How It Works: VerifAI from SpotDraft, Using AI in Word To Help Lawyers Review Contracts Faster (note that How It Works videos are sponsored by the vendor).
