This paper details Conga’s AI development philosophy, its background in document and contract management technology, the focused expertise it has assembled over the past decade, and the company’s vision for the future of document automation. From this, the takeaway will be clear: Conga is the leading developer of AI-powered document and contract automation.
Artificial Intelligence for business documents and contracts
The importance of AI
With respect to documents, three specific areas of AI are critical: machine learning (ML), robotic process automation (RPA), and natural language processing (NLP).
The foundation of document intelligence
As with many other sectors, document and contract management has been plagued recently with companies using AI as a marketing weapon, even as the products and solutions they promote contain little if any true AI.
Applying AI to business contracts
Contracts are a very specific subset of business documents. The language used is frequently unlike plain or spoken language, employing non-standard words, phrases, and punctuation. And even the language across specific types of contracts, say from an equipment leasing contract to a non-disclosure agreement, can vary widely.