Now Assist in Contract Management
Summarize
Summary of Now Assist in Contract Management
Now Assist in Contract Management allows users to analyze contracts for missing or non-standard clauses and extract relevant information from signed contracts for integration into a contract repository. The tool features a conversational search capability that uses natural language to facilitate semantic searches of the contract repository and signed documents.
Show less
Key Features
- Contract Analysis: Identify non-standard and missing clauses in contracts.
- Information Extraction: Seamlessly add data from signed contracts to your repository.
- Conversational Search: Utilize natural language queries to perform searches within the contract repository.
- Generative AI Capabilities: Leverage AI-driven workflows for enhanced contract management.
- Regional Availability: Note that some features may not be accessible in certain regions or environments, such as FedRAMP or NSC DOD IL5.
Key Outcomes
Using Now Assist in Contract Management, customers can efficiently manage contracts, enhance retrieval processes, and ensure compliance by identifying critical missing information. However, it is essential to understand that while the AI capabilities assist in analysis, they do not replace professional legal advice, and users must exercise due diligence in evaluating AI outputs.
Important Considerations
Customers should be aware of the application's limitations, including potential inaccuracies in AI-generated outputs and the need for human oversight. Additionally, data processed through the application may be transferred to different regions and third-party providers, adhering to ServiceNow's data handling policies. Customers can opt out of data collection if desired.
Use Now Assist in Contract Management to analyze contracts for non-standard and missing clauses, and extract information from signed contracts to add in the contract repository. It also provides conversational search using natural language, enabling you to search the contract repository and perform semantic search in signed contract documents from the Now Assist panel.
None of the Advanced AI and Data Products provide legal or professional advice. The outputs provided by the Advanced AI and Data Products are for informational purposes only and are not a substitute for advice from a qualified professional. Customer assumes all responsibility and obligations with respect to any decisions, advice, conclusions, legal opinions, recommendations made or given as a result of the use of the services, including without limitation, any decision made, or action taken by Customer in reliance upon the Advanced AI and Data Products.
The Advance AI and Data Products and services do not and are not intended to constitute legal advice and do not create an attorney-client relationship.
Get started
- Not all model providers are available for customers with in-country SKUs, and some Now Assist products/features are currently unavailable for in-country customers. For more information, see the KB1584492 article in the Now Support Knowledge Base. Be sure to check for model provider availability updates in future releases.
- Some Now Assist products/features are currently unavailable for customers in the FedRAMP, NSC DOD IL5, or Australia IRAP-Protected data centers, self-hosted customers, or in other restricted environments. For more information, see the KB0743854 article in the Now Support Knowledge Base. Be sure to check for availability updates in future releases.
- Some Now Assist products/features are currently available only for customers in some regions. Be sure to check for availability updates in future releases.
- Some AI products and skills are not available in Regulated Markets. For more information, see KB2593939: Regulated Markets AI Products/Skills Not Available. Be sure to check for availability updates in future releases.
Troubleshoot and get help
AI limitations
This application uses artificial intelligence (AI) and machine learning, which are rapidly evolving fields of study that generate predictions based on patterns in data. As a result, this application may not always produce accurate, complete, or appropriate information. Furthermore, there is no guarantee that this application has been fully trained or tested for your use case. To mitigate these issues, it is your responsibility to test and evaluate your use of this application for accuracy, harm, and appropriateness for your use case, employ human oversight of output, and refrain from relying solely on AI-generated outputs for decision-making purposes. This is especially important if you choose to deploy this application in areas with consequential impacts such as healthcare, finance, legal, employment, security, or infrastructure. You agree to abide by ServiceNow’s AI Acceptable Use Policy, which may be updated by ServiceNow.
Data processing
This application requires data to be transferred from ServiceNow customers' individual instances to a centralized ServiceNow environment, which may be located in a different data center region from the one where your instance is, and potentially to a third-party cloud provider, such as Microsoft Azure. This data is handled per ServiceNow's internal policies and procedures, including our policies available through our CORE Compliance Portal.
Data collection
ServiceNow collects and uses the inputs, outputs, and edits to outputs of this application to develop and improve ServiceNow technologies including ServiceNow models and AI products. In addition, this application collects all text from the submitted contract document. Customers can opt out of future data collection at any time, as described in the Now Assist Opt-Out page.
For more information, see the Now Assist documentation.