Aavenir Unveils Avy AI
Aavenir, a contract management solutions provider, has launched a generative artificial intelligence assistant, Avy AI, for legal and procurement teams.
Avy AI, powered by Aavenir's large language model and trained on thousands of contracts, helps legal and procurement teams comprehend contracts, decipher clauses, ask contracts questions, and more, for an enhanced connected contract management experience on the ServiceNow platform.
With Avy AI, users can generate safer clause language based on clause deviation summary, speed up contract negotiation, identify potential risks, and provide insights.They can also ask intent-based questions such as "Is this contract HIPAA compliant?" or "Can we terminate this contract immediately?" and simplify 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 improved performance that contributes to informed and strategic decision-making," said Jesal Mehta, CEO and founder of Aavenir, in a statement.
"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, senior vice president of product at Aavenir, in a statement.