Aavenir Unveils Avy AI for Connected Contract Management Solutions on ServiceNow

By Business Wire On Jan 31, 2024

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.

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.

“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”

Recommended AI Interviews: AiThority Interview with Dave Bottoms, VP of Product at Upwork

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.

Recommended AI Interviews: AiThority Interview with Molham Aref, Founder and CEO of RelationalAI

“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 share your insights with us as part of editorial or sponsored content, please write to sghosh@martechseries.com]