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Applying artificial intelligence (GPT-3) to contract management (World Commerce & Contracting)
Tuesday, March 07, 2023, 10:00am - 11:00pm
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Don't get left behind in the stampede: Learn how to apply AI technology to make your life easier.

Developments in Artificial Intelligence are moving fast. Learn how to apply Natural Language Programming (NLP) to simplify contracts or to extract obligations from existing agreements. GPT-3 is shorthand for Generative Pre-trained Transformer 3 (GPT-3) and is a NLP model that uses deep learning to produce human-like text. It was developed by OpenAI, a San Francisco-based artificial intelligence research laboratory. An April 2022 review in The New York Times described GPT-3's capabilities as being able to write original prose with fluency equivalent to that of a human.

This webinar will provide an overview of the application of OpenAI's GPT-3 to improve contract writing and extracting contract obligations. It will discuss the advantages of using GPT-3 for contract creation and management, including its ability to generate more natural-sounding contracts, and its ability to extract specific obligations from existing contracts, including techniques for identifying important words and phrases in contracts, and for automatically summarizing agreements. The webinar will also discuss potential challenges with GPT-3, including its potential for misuse and the need for careful training and oversight. Finally, the webinar will provide an overview of the current state of GPT-3 in contract writing and how it might be used in the future.

Join Kingsley Martin (Chief Contract Scientist at Akorda), Sally Guyer (Global CEO at WorldCC) and Paul Branch (Executive in Residence at WorldCC) to see firsthand how to apply this ground-breaking technology.

Key takeaway points

  • How to use GPT-3 for contract creation and obligations extraction
  • Challenges using GPT-3
  • The future applications of this technology

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