By Joe Pearse, Sales Manager, West and Strategic Partners, Coda Global
I recently had the pleasure of sitting down for a conversation with Alex Josephs and Dan de Grazia from IBM’s North American Channels organization to discuss the relationship between Coda Global and IBM and how it has helped us meet some very unique and specific customer requirements.
In addition to talking about the importance of the agreement between IBM and RedHat earlier this year that focused on accelerating hybrid cloud adoption, we also discussed the role of automation and containers in successful application development as well as artificial intelligence (AI) solutions made possible by a partnership with IBM’s Watson Discovery Services. As you can imagine, with AI being so bleeding-edge today, we had a lot to talk about, including a new AI-based contract review solution Coda has recently brought to market that taps the power of IBM Watson Discovery Services for element classification.
The use cases for AI are still being understood, but I often compare it to a few years back when “cloud” started showing up as a buzzword related to just about everything – whether or not it was cloud-related. The same phenomenon is happening today as organizations want to be among the first to have an “intelligent” solution while few fully understand how the solution becomes intelligent. As a result, at Coda, we spend a great deal of time helping customers understand what an AI solution is and what it is not. In the case of the solution Coda developed, it’s a contract review solution for procurement organizations that can be customized for each client to compare and contrast contractual language, discerning what should and should not be included in a contract, flagging specific wording – or a lack thereof – that needs human review.
While it is a true cognitive solution, it’s something akin to a new employee that has great promise and capability, yet still needs training in the specifics of the organization employing it. This hyper-intelligent “employee” is able to learn and grow based on the data it receives, and when the time is spent to train the application properly, the results are nothing short of amazing.
We worked for a year and a half with the IBM Watson Discovery Services team on this project, and I developed a real appreciation for the challenges inherent in procurement organizations. Through this process, we learned that in procurement organizations, and even in legal firms, by giving the solution the ability to classify a document and break it into its elements and component parts – things like governance and indemnity and intellectual property and payment terms – for example, we could tap into the power of Watson Discovery Services to build a solution that could be trained to recognize a client organization’s specific set of rules. By applying these rules, the program can scan legal documents and determine whether the language in a particular document is acceptable or not, calculating a risk score that indicates which documents require further scrutiny.
It’s important to recognize that this kind of solution is not intended to replace lawyers; it’s intended to do the initial blocking and tackling and reliably accelerate the job of analyzing procurement contracts. The same principles can be applied in other vertical markets, with the goal of augmenting the legal team’s job as a trusted assistant might do, freeing their time for other more valuable work. With a well-trained cognitive solution like Coda’s in their toolkit, any employee in a procurement department can become as good as the best employee that department has ever had.
Want to learn more? Listen to the whole “Shameless Plug” podcast discussion between Coda Global’s Joe Pearse and IBM’s Alex Josephs and Dan de Grazia. Next, check out the AI and machine learning section of the Coda Global website, then read a blog by Sharan Gurunathan, Executive Vice President, India, at Coda Global, that explores what AI means to the future of work. Finally, download an infographic that explains how a hybrid cloud development platform can accelerate innovation. Want to talk about your own AppDev project or a custom AI solution? Contact us to see what Coda Global can do for you.