Aavenir announced the launch of its Generative AI assistant tool, Avy AI, powered by Aavenir's proprietary Large Language Model (LLM) built on an Open-Source LLM. Trained on thousands of contracts, Avy AI helps legal and procurement teams seamlessly comprehend the contracts, decipher the clause, ask contracts question, etc.- delivering an enhanced connected contract management experience on the ServiceNow platform.
January 30, 2024 09:00 AM Eastern Standard Time
MCKINNEY, Texas--(BUSINESS WIRE)--Aavenir, an AI-enabled Connected Contract Management leader, announces the launch of its Generative AI assistant, Avy AI. The tool assists legal and procurement teams to perform their contract lifecycle management deliverables more efficiently, and allows for the quick adoption of new generative AI capabilities.
Benefits of Avy AI
- Generate safer clause. Users can generate safer clause language (based on clause deviation summary) with Avy AI by leveraging its capabilities to analyze language, speed up contract negotiation, identify potential risks, and provide insights, significantly reducing organizational risk.
- Ask Contract a Question. Avy AI allows legal and non-legal teams to ask intent-based questions such as "Is this contract HIPAA compliant?" or "Can we terminate this contract immediately?" saving valuable time and locating any hidden obligations.
- Simplification of Clause Language for non-legal teams. Avy AI simplifies complex clause language from lengthy, verbose, and dense contracts into easy-to-understand English.
"The unveiling of Avy AI reaffirms Aavenir’s commitment as an AI-first company. Avy AI will uplift our Generative AI capabilities and help Aavenir customers gain remarkable control over productivity, costs, and risk. It also focuses on delivering an improved performance that contributes to informed and strategic decision-making," said Jesal Mehta, CEO and Founder, Aavenir.
"We are excited to introduce Avy AI to our customers. Built to empower users to interact with contracts in a highly dynamic and conversational manner, Avy AI is more than just another AI assist tool. It comprehends contracts, understands legal language, and enhances the overall user experience by providing unparalleled insights into contracts and connected data,” said Sunil Masand, SVP, Product, Aavenir.
To know more about Avy AI and experience how it works, Book a Demo.
About Aavenir
Aavenir, an Advanced Platform Partner of ServiceNow helps enterprises maximize ROI with AI-powered Source-to-Contract applications on ServiceNow, comprising Sourcing Management, Onboarding Workflow Management, Contract Lifecycle Management, Obligation Management, Accounts Payable Automation. Visit: aavenir.com.
Contacts
Marketing & Communications Team, Aavenir
[email protected]
Originally published on: BusinessWire
