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How AI-Powered Contracts Are Strengthening Financial Health In A Regulatory Shift
- AI is shaping the regulatory landscape as 60% of governments worldwide will adopt a risk management approach by 2028
- New and existing regulations impact many areas of commerce and create huge compliance challenges
- Significant financial penalties, litigation, and reputational damage can erode revenue and threaten a company’s long-term stability and growth
- Contracts serve as the foundation for every great compliance strategy and represent an opportunity to enforce regulatory standards
- AI-powered contracting solutions can extract obligations at scale and help ensure regulatory compliance clauses are adhered to
- Automating compliance with AI-driven solutions offers substantial benefits including detection of potential areas of non-compliance
- AI can suggest compliant language to optimize the contract and enables legal teams to focus resources on high-risk agreements
- AI in contracting brings potential cost-saving and revenue opportunities to the surface that might otherwise be overlooked
- Contract Intelligence finds value in agreements immediately and then enables continual performance across relationships
- This safeguards the company’s financial health by preventing unwanted revenue leakage that undermines the balance sheet
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