AI is benefitting the SAP industry in more ways than one. Last year we saw SAP’s AI co-pilot Joule make its debut along with new generative capabilities dedicated to its SAP Customer Experience (CX) portfolio.
But what does 2024 have in store for the world of AI innovations? It may be too early to make such a significant prediction just yet but we are seeing some innovations come to the fore already.
Take DocuSign for example, who wanted to develop an AI solution that would cut hours spent trying to make sense of important information that’s difficult to find and simplify the process for its customers. The experience as it stood then was often frustrating, confusing and could lead to unnecessary delays in business for the end user.
Introducing DocuSign’s newest feature, Agreement Summarization which is enabled by its integration with Azure’s OpenAI Service to simplify the document review process to surface a contract’s most critical components, in turn helping signers to get a better grasp on key information in their agreement.
Looking forward to the eventual integration of AI such as this into platforms like SAP’s Customer Experience (CX) portfolio, as seen with Joule, can enhance user experience and streamline processes.
Although organizations have seen great benefits from digitizing their agreement processes with DocuSign, the company says there are still many steps that remain unnecessarily manual and time-intensive.
Agreement Summarization makes it easier for users to grasp the meaning of a document, enabling them to make faster decisions. The latest feature joins DocuSign’s existing innovations such as AI for eSignature, for CLM and AI Identification. AI Identification is a biometric identity verification app that matches a customer’s face to the photo on their ID.
Meanwhile, AI for eSignature helps signers search and find agreement key terms within an agreement by highlighting searched-for content sections and AI for CLM identifies and extracts common legal concepts and terms, speeding up document review, reducing contractual risk and generating better agreement intelligence.
Inhi Cho Suh, President of Product, Technology and Operations, DocuSign said: “In the coming decade, generative AI will transform every aspect of our lives, especially the way we create, understand and manage agreements. Digitization is redefining what agreements look like, how we codify trust in agreements and even evolving what constitutes an agreement.”
Cho Suh also said that DocuSign has been “entrusted with the largest agreement-centric data set in the world” to train agreement language models to help customers accelerate their digital business while minimizing risk.
AI-driven solutions, especially those like DocuSign’s Agreement Summarization, into SAP-related processes can potentially offer more efficient, accurate and streamlined operations for SAP users dealing with agreements, contracts and document management within their business processes. Therefore, when automating their cloud migrations SAP users utilizing DocuSign’s AI can simplify the process even further.
Customers can join the DocuSign AI Labs waiting list where they can get an early insight into what the DocuSign AI teams are working on.
