Data Paves the Way for AI Contract Writing

Data Paves the Way for AI Contract Writing

Recently, Brian Merrick, Deputy Assistant Secretary of State addressed the importance of data in driving federal modernization efforts. Merrick sees data as a crucial instrument in the successful introduction of AI and ML technologies for contract writing. This could reduce costs, manual labor, and the chance of errors, thereby ensuring accuracy. The speech, which was held last week, has attracted much attention, motivating the U.S Department of State to publish a Request For Information (RFI) on Wednesday. The goal is to invite industry to weigh in on using generative AI to undertake the task of contract writing.

The Secretary of State, Antony Blinken, is a major promoter for the US taking the lead in implementing machine learning and AI technologies in order to foster innovation in federal diplomacy. In his talk, Merrick urged businesses to pressure policymakers to adapt to modern technologies, citing the importance of data-driven and AI-aided decisions and solutions.

Generally, this news has been met with enthusiasm from industry representatives and members of the general public, who have their eyes set on a more efficient and effective system of contract writing. The RFI issued by the State Department has a deadline of July 17th for interested parties to respond, and should the requirements be met, Generative AI could be implemented soon and all the promises that come with it.

Published by Steven A Nichols

I am the founder of Banyan Business Outcomes LLC. I've spent my career helping technology companies get closer to their clients, and helping clients leverage technology companies to create value.

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