SpotDraft, a company specializing in agreement lifecycle management, introduced VerifAI, a novel conceptual AI add-on for Microsoft Word in October. The primary aim behind this launch was to streamline the legal review process. SpotDraft has now made this tool accessible to the public, offering a free two-week trial to anyone interested.
VerifAI leverages conceptual AI to evaluate contracts based on user-defined rules in plain English, as previously highlighted. It also addresses uncertainties and provides insights on cultural nuances within contracts.
In December, I had the opportunity to witness a demonstration of the early release version of VerifAI with Rohith Salim, the co-founder and general merchandise agent at SpotDraft.
During the initial access phase, over 250 individuals from 100+ businesses utilized the tool. SpotDraft incorporated three significant enhancements based on user feedback:
One notable improvement is the tool’s enhanced autonomy. Previously, users had to schedule onboarding meetings, but now they can independently access and utilize VerifAI promptly with minimal setup requirements.
Udit Misra, the director of growth and product marketing, emphasized the deliberate design of VerifAI for user-friendliness and seamless setup.
Notably, VerifAI operates as a standalone product, eliminating the need for a SpotDraft subscription. Users can leverage the tool without any specialized training, as it is designed to be intuitive from the outset.
As previously mentioned, VerifAI offers a complimentary two-week trial period, after which a subscription is priced at $60 per month.
