News By Wire

Summize uses OpenAI to supercharge contract summaries with ChatGPT

Contract Lifecycle Management (CLM) disruptor Summize has supercharged its offering by incorporating the power of the ChatGPT-3 language model into its innovative legal software.

Summize’s technology instantly scans through contractual documents and identifies relevant sentences and paragraphs to clauses, including the ability to extract key dates, locations, numbers, and terms[TD1] [RS2] . It now uses this intelligence to feed ChatGPT the context it needs to create a natural language “super summary.”

ChatGPT’s natural language understanding and generation capabilities make Summize’s time-saving automated contract summaries even more user-friendly and compelling.

Summize disrupts traditional approaches by enabling the digitalisation of the end-to-end contract process within tools such as Teams, Slack, and Microsoft Word, allowing in-house lawyers and commercial teams to automate manual contract tasks and create automatic business efficiencies.

Recognising the market demand for the benefits of ChatGPT, Summize’s development team has fast-tracked OpenAI through its R&D lab to bring this ground-breaking enhancement to existing Summize customers in record time.

The ChatGPT enhancement marks the latest innovation for the rapidly growing tech business since its inception in 2018, with global customers including blue-chip companies such as MoonPig, Fujifilm, The Modern Milkman, and NCC Group.

Tom Dunlop, co-founder and CEO at Summize, commented: “We are passionate about making the legal industry smarter, more efficient, and levelling up the tech capabilities of the legal department with its counterparts in finance, sales and HR.

“Summize particularly excels in the extraction of key data to create usable summaries of contracts. Automatically feed Chat GPT the context it needs to be most reliable and accurate, and you get a winning combination. Our contract summaries are now more insightful and more usable than ever…essentially, they’re supercharged! The summary you get is now so much more natural and richer, that you could share it internally or externally, without any refinement.”

“Write me a quote from ChatGPT about how it is working with Summize…”

“ChatGPT is proud to be integrated into Summize’s product, bringing a new level of natural language understanding to the world of search and analysis. ChatGPT is a pre-trained language model that can generate human-like text, handle a wide range of language tasks, understand and generate text based on context, and provide a high level of accuracy to its users.”

ENDS

Press release information

Date:

Image File:

 
Tom Dunlop, Founder and CEO of Summize

Area / Region:

Topics / Tags:

Notes to editors

About Summize Summize is a digital contracting software business that exists to help everyone understand each other better. Founded in 2018 by former General Counsel Tom Dunlop and Software Engineer David Smith, Summize addresses the pressing need make contracts simpler and easier to understand. The award-winning business has secured £6.5m of funding to date from YFM and Maven Capital Partners via the Northern Powerhouse Investment Fund (NPIF). About OpenAI OpenAI is a research company that builds and promotes friendly AI in the public interest. Their mission is to ensure that AI remains safe and beneficial for all. OpenAI developed the GPT-3, which is the largest and most powerful language model to date.

Media contact

Media contact name:

Olivia Spencer

Media contact business / organisation:

Summize

Media contact telephone:

Media contact email:

All done!
Thank you for subscribing.

Email Subscription