Vienna, Austria, November 25, 2020 –(PR.com)– Cortical.io today announced its artificial intelligence-based Contract Intelligence solution has been awarded “Overall Contract Automation Solution of the Year” by LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products, and services supporting legal professionals around the globe.
Cortical.io Contract Intelligence is an AI-based solution for enterprises that need to review and analyze contracts and other documents. By leveraging a natural language understanding approach inspired by neurosciences, the solution is able to analyze the meaning of whole sentences and understands concepts, instead of just keywords. As a result, Cortical.io Contract Intelligence offers a powerful capability to automatically extract and classify key terms and provisions, search within individual documents, or over the entire document repository and compare documents against a template, or previous versions. The solution’s meaning-based approach provides a level of accuracy that is difficult to achieve with manual labor or other automation tools.
“Cortical.io delivers a range of intelligent document processing solutions that relieve employees of the burden of reviewing large amounts of documents or sifting through masses of unstructured text,” said Cortical.io COO Thomas Reinemer. “Contract Intelligence, unlike other contract review tools, requires little training data and no AI expertise, giving the full control to subject matter experts over the training process and making it faster to implement.”
The mission of the LegalTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of LegalTech categories, including case management, client relations, data and analytics, documentation, legal education, bots, and legal assistants.
“Contract Intelligence is used by Fortune 500 companies to reduce document processing costs and meet critical deadlines, while obtaining valuable insight about the information hidden in their contracts,” said Bryan Vaughn, managing director of LegalTech Breakthrough. “We are proud to honor Cortical.io with the ‘Overall Contract Automation Solution of the Year’ award for its innovative AI-backed technology solutions.”
Cortical.io delivers AI-based business solutions which are quicker and easier to implement and more capable than current approaches. The company’s patented method of Natural Language Understanding (NLU) enables enterprises to more effectively search, extract, and analyze information from unstructured text. The company’s solutions, including Contract Intelligence and Message Intelligence, cover a wide spectrum of use cases with proven implementations in Fortune 500 companies. Cortical.io is working to enable Semantic Supercomputing, the ability to process streams of natural language content at massive scale in real time through the use of hardware acceleration. Cortical.io has offices in the U.S. (New York and San Francisco) and Europe (Vienna). For more information, visit: https://www.cortical.io. Follow us on LinkedIn and Twitter @Cortical_io.
About LegalTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the LegalTech Breakthrough Awards program is devoted to recognizing the best companies, technologies, products and services in the field of Legal Technology. The LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of technology companies and solutions in categories including case management, client relations, data and analytics, documentation, legal education, and bots and legal assistants. For more information visit https://legaltechbreakthrough.com/.
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