Knowing what AI can do with contract generation and management, having a CLM is just half of the battle. There are lots of true automation you can deploy in addition to or on top of a CLM, many of which are not being offered or properly set up by a CLM Vendor. 

When we talk about machine learning’s application in legal agreements, we have to teach the machine what in-house counsel teams typically fight about and how to resolve such fights depending on the leverage and positioning of the parties. So what do counsel most fight about? And how do they structure an agreement in a fair, mutually beneficial way? Here are some thoughts. ‍

Since the development and advancement of large language models (“LLMs”), we have discussed and debated its application in domain verticals such as legal tech in depth. During this process, we have heard many misconceptions and misunderstandings of how LLMs work in a specific domain. Here are five common misconceptions. 

In today's emerging tech industry, in-house legal teams play a vital role. As tech quickly evolves, in-house counsel face unique challenges that require innovative solutions. In this article, we explore the common missteps that in-house counsel often make and how legal technology like Trusli can help them increase efficiency, manage risks, and ultimately play a more strategic role in your business.

Efficient spend management is vital for startups. Leveraging cutting-edge procurement solutions can make all the difference in an early-stage business’s success. Startups often struggle with disorganized software purchases and end up wasting money on similar tools. However, implementing the right procurement strategies and solutions can streamline startups’ procurement processes and maximize their resources.In today's competitive market, effective spend management has become integral for startups, especially considering fluctuations in funding. By minimizing waste and maximizing savings, startups can navigate financial uncertainties with greater resilience. Investors are more likely to invest in early-stage companies with a stronger financial foundation. Here are some tips for optimizing spend management and boosting savings:

We've frequently discussed the benefits and pitfalls of ChatGPT. It's only prudent to remind folks about the risks of "hallucinations" and the occasional lapses in accuracy that ChatGPT can encounter. It's no surprise that some "ingenious" lawyer already attempted to use it to cite case law and was caught on the spot when an astute judge had their staff cross-check the references. Those skeptical of ChatGPT are now laughing uproariously at this blunder. "I told you so", they say. And yes, it's absurd to ask ChatGPT to cite case law and to trust its references without double-checking the sources. After all, let's remember that ChatGPT is a large language model—it generates content based on context. Precision and accurate sourcing aren't its strong suits. Producing plausible-looking content is more its way of operating. Does this misstep mean that lawyers should abandon ChatGPT? This idea couldn't be further from the truth. Legal documents are, by nature, constructed on context. So, ChatGPT excels at creating templates, generating different drafts of a particular clause, reviewing documents, and suggesting relevant edits, to name just a few uses. So, how should lawyers utilize ChatGPT without tripping up like our colleagues at Levidow, Levidow & Oberman? Here are a few suggestions:

In the wake of the COVID-19 pandemic, our professional environment has undergone a significant transformation. Remote work, once a sporadic luxury or an experiment in progressive companies, has swiftly become the new norm. Questions we once asked, such as "Can I work from home?" or "How many days can I work remotely?" have been flipped on their head. Today, we find ourselves asking, "Do I need to be in the office at all?" or "How often do I really need to be physically present at work?"...

Diversity, Equity, and Inclusion (DE&I) are critical components of building a successful startup. When companies prioritize DE&I, they tend to have more engaged employees, a more innovative culture, and better financial performance. Here are five ways that startups can promote DE&I.

Back in the day, ERP implementations used to be a nightmare for many companies. We've all heard of horror stories where millions of dollars were spent on planning and implementation, only to be told that the whole thing was a failure. But why is this still happening? With our extensive experience in ERP, we have identified the four main challenges that companies face when selecting and implementing an ERP solution. We are working to create a new generation of ERP systems that are easy to implement, intuitive to use, and adaptable to each organization's unique needs. Stay tuned for our new product roadmap!

A long time ago, we’ve written about the best and worst use of AI when it comes to lawyers. If some of you recall, our original “Sleegal AI” is a ChatGPT style chatbot to help people find lawyers. Before we know it, AI Generated Content (“AIGC”) has become the hottest topic in 2023. With this in mind and deriving from our understanding of AI, legal tech and self-driving cars, what is ChatGPT good and bad at?

When we talk to our potential customers in the field, especially the relatively new startups who are going through hypergrowth, we notice that there is a lot of misunderstanding and confusion about needing a procurement team at all. We have seen hyper-growth companies with a few thousand employees, some of which may even produce and sell hardware, who don’t have a procurement function at all. This is mind-boggling and very dangerous. Here are the common fallacies about whether and why a company needs procurement and our responses to them.

In the past we have written extensively about why metrics matter for procurement leaders and why having a system to keep track of them is of essential importance. Today, I’d like to discuss one metric that procurement managers often overlook. Even in cases when they do realize the importance of this metric, it’s one of the metrics that’s more opaque and harder to keep track of. However, this metric is extremely important to keep track of. Keeping this metric under control and strict scrutiny will go a long way to not only cut cost, but increase bottom line. Here is why and how.