AI Document Compering: Asking Complex Questions in Commercial Lease Agreement
AI Transforms: Analyses, Explains, Interprets Lease Agreements | Article
Advanced AI Multiple Document Comparison Elevates Data Review with Precise Questions to Simplify Complex Answers
‘Introducing AI-Powered Document Comparison: Effortlessly Analyze and Process Diverse File Formats’
Welcome to this blog post, where we are thrilled to present our newest AI-driven services, hosted on AWS, that allow you to easily compare and comprehend complex and lengthy documents side by side, all at an unprecedented scale. Our platform harnesses the power of AI tools to compare and analyze various types of documents and file formats, providing accurate and constructive answers to intricate questions with remarkable efficiency.
Gone are the days of laboriously processing documents manually. Our advanced document processing capabilities allow you to streamline your workflow and save valuable time. Our AI-powered system can effortlessly extract critical information from multiple documents, enabling you to analyze and make well-informed decisions effortlessly.
One of the standout features of our platform is the state-of-the-art “Diff Checker,” which allows you to visually compare two or more documents, highlighting their differences and similarities. This revolutionary tool simplifies the understanding of changes made in updated versions, making collaboration and revision processes smoother.
The AI technology driving our platform empowers you to tackle complex tasks easily. It facilitates quick comprehension of various document types, irrespective of their length or complexity. Whether it’s legal contracts, research papers, or financial reports, our AI tools can handle them all.
By leveraging AWS’s capabilities, we ensure that our platform is both scalable and reliable, providing you with a seamless experience regardless of your document processing needs. So, join us on this journey through the cutting-edge advancements in AI technology that enable effortless comparison and analysis of documents, transforming how you interact with information.
Have you ever wondered what makes our AI Document Comparison wizardry work? Let’s explore the juicy details of the components that power this cutting-edge technology.
This section aims to provide a comprehensive breakdown of each component and its unique contribution to our AI Document Comparing technology, also known as Data Review. By exploring each section in detail, you will gain a deeper understanding of each component’s vital role in ensuring the overall success of our cutting-edge technology. Through our expert analysis and professional insights, you’ll gain a newfound appreciation for the intricate inner workings of our state-of-the-art system.
Ensuring an exceptional user experience is our topmost priority.
Our goal was to provide a completely automated AI-driven service that anyone can easily operate. User input is limited to simply uploading documents and specifying relevant questions in the Question Template. The AI and NLP take care of the rest through the back end, allowing professionals to focus on high-value tasks while the system processes hundreds of lengthy documents. The only remaining step is to export the report and cross-check some of the answers for certainty. This streamlined process maximizes efficiency and productivity while ensuring accurate results.
Optical Character Recognition (OCR) technology involves the automated extraction of information from scanned documents. It converts hard-copy text-based documents into digital formats, allowing for efficient and streamlined data processing.
A fascinating observation has emerged as we dive deeper into AI Document Comparison, especially within the Legal Sector. Did you know that an astonishing 90% of the documents uploaded by legal professionals are scanned documents from their clients? Here’s where Optical Character Recognition (OCR) technology comes into play. OCR allows for extracting information from these documents, even capturing small prints almost invisible to the human eye. Upon upload, users are prompted to select between Digital or Scanned Documents. If a scanned document is selected, OCR is triggered, and a digital copy is ready for use within a few minutes.
Despite the significant advancements in OCR technology, our team faced a unique challenge with the Polish language. The language includes extra characters such as ą, ć, ę, ł, ń, ó, ś, ź, and ż, which posed a challenge for our OCR system. But we persevered and developed a specialized OCR system just for that language. This experience taught us a valuable lesson to approach every language with the same level of caution and attention to detail.
Translation, being versatile in numerous languages
As we delve into the domain of Information Technology and Artificial Intelligence (AI), it’s no secret that the English language dominates the industry. This is mainly due to its widespread availability on the internet, and AI systems are often trained in English. However, at AIdot, we focus on delivering accuracy when extracting information from documents, so we automatically translate documents into languages other than English. Currently, we offer support for Polish and Arabic languages, with plans to expand to other languages shortly, all as part of our AI Document Comparing SaaS system.
While testing our technology, we’ve made a fascinating discovery—even when posed in Polish, some complex questions generated a more comprehensive answer in English. Our ultimate goal is to find accurate answers buried in lengthy documents of 600-900 pages while introducing automation to eliminate the need for manual processing.
We understand that as AI technology evolves, it will eventually work with documents written in native languages. However, we currently prefer to use English as a fallback option to maintain accuracy and consistency, providing an extra layer of security and reliability.
Questions and Answers that are shown in the video
In the fast-paced micro video above, we demonstrated how AI can quickly read and comprehend a standard commercial lease agreement and retrieve the most accurate answers to specific questions. But let’s slow down and look closely at the behind-the-scenes process.
Using cutting-edge Natural Language Processing (NLP) technology, the AI system tirelessly works in the background to analyze and extract information from the document. It’s a complex process that requires careful attention to detail, so we recommend asking detailed and complex questions to ensure the most accurate answers.
Think of it like asking a knowledgeable colleague at work for information. Sometimes, we have to rephrase our questions to ensure clarity and understanding. Similarly, asking vague questions like “Who is the pretty boy?” won’t get you very far here.
With a bit of practice and experimentation, users can quickly get the hang of the system and feel more comfortable. We deliberately provide answers individually to help users focus on one question at a time, allowing users to read them as the AI system works in real-time in the background.
So go ahead and test the system with your most challenging questions! The AI system is up for the task, and we’re confident it will provide you with the most accurate answers to help you make informed decisions.
Questions and Answers examples:
Question: How many days’ notices can Landlord provide to terminate the tenancy?
Answer: 15 days notice. content_used=3.1 The term of the Lease commences on 1°” August 2022 and ends on 31% July 2027. 3.2Upon 15 days notice, the Landlord may terminate the tenancy under this Lease if the Tenant has defaulted in the payment of any portion of the Rent when due. 3.3 Upon 15 days notice, the Landlord may terminate the tenancy under this Lease if the Tenant fails to observe, perform and keep each and every of the covenants, agreements, stipulations, obligations, conditions and
Question: What will happen to the tenant if there is damage to the premises?
Answer: The Tenant will promptly notify the Landlord of any damage or of any situation that may significantly interfere with the normal use of the Premises or to any furnishings or other property supplied by the Landlord. content_used=The Tenant will promptly notify the Landlord of any damage, or of any situation that may significantly interfere with the normal use of the Premises or to any furnishings or other property supplied by the Landlord.
Question: What are the rules for the tenant regarding hazardous materials?
Answer: The Tenant will not keep or have on the Premises any article or thing of a dangerous, flammable, or explosive character that might unreasonably increase the danger of fire on the Premises or that might be considered hazardous by any responsible insurance company., content_used=24.1 The Tenant will not keep or have on the Premises any article or thing of a dangerous, flammable, or explosive character that might unreasonably increase the danger of fire on the Premises or that might be considered hazardous by any responsible insurance company.
Question: What is the risk to the Landlord in this lease agreement?
Answer: The risk to the Landlord in this lease agreement is that the Tenant may not comply with all statutes, bylaws, rules and regulations of any federal, provincial, municipal or other competent authority and may do something on or in the Premises in contravention of any of them, resulting in liquidated damages for the loss of rent and other income of the Landlord expected to be derived from this Lease during the period which would have constituted the unexpired portion of the term had it not been terminated.
Snapshot, a Quick Screenshot and overview of Documents
In the “Initial Comparison Results” section, we provide a quick snapshot of all the documents that have been compared against the Master Copy and the questions asked. The score is calculated based on both these factors, regardless of whether you have 2 or 60 documents. With a glance, you can quickly see which files are scoring high and which are lagging behind, helping you prioritize your attention and efforts accordingly.
When analyzing 20 or more documents in parallel, and some of them score 90% or less, it becomes evident that crucial information is missing, requiring extra attention to these files.
The score calculation is based on two main factors:
- Firstly, cross-check the information against the Master Copy and Source documents on similar subjects, even if they have different lengths. We carefully examine what insights the document offers for AI and NLP analysis.
- Secondly, we assess the accuracy of the answers delivered from the questions specified in the Question Template. Some questions may remain unanswered if the information is not present within the document. Therefore, the score will reflect a lower grade.
Snapshot, a Quick Screenshot and overview of Documents
Experience the convenience of having a comprehensive report and answers to your inquiries within a single Excel file.
Our video example showcases a powerful technique that compares two Source files with a Master Copy, generating a separate TAB for each that provides comprehensive answers. For instance, if you were comparing 50 files, an Excel file would contain the same number of TABs.
This approach is highly efficient, delivering precise results within minutes. In contrast, manual comparison could take hours or even days, particularly when dealing with lengthy files or scanned documents with varying angles on each page.
Experience the convenience of having a comprehensive report and answers to your inquiries within a single Excel file at your disposal
We have compiled a series of insightful observations shared by our esteemed clients aimed at providing comprehensive answers to the most frequently asked questions.
How many questions can be asked?
Regarding legal documents, on average, our clients ask 40 to 60 questions per document. There is no limit to the number of questions that can be asked.
What is the length of the documents in question?
On average, the documents are 30-50 pages; however, we assisted our early adopters with 600-900-page documents. The longest we had so far was 1,178 pages. The AIdot System is coping very well even with long documents.
What is the estimated time frame required for conducting OCR and Translation processes?
The duration of conducting OCR and Translation tasks depends on the document’s length, which typically spans one to eight minutes.
“The cost of insight is no longer a barrier with AI – 20 questions, a wealth of information, and a fraction of the time and expense.”
— Notions Networked
AI Document Comparison | Data Review | NLP (Natural Language Processing) | Natural Language Understanding | AI Extracting Information | Comprehending Written Words | Text Analysis | Semantic Analysis | Machine Learning | Information Extraction | Text Mining | Text Classification | Sentiment Analysis | Named Entity Recognition | Document Similarity | Document Clustering | Document Summarisation | Text Summarisation | Language Modeling | Information Retrival
How to Get Started Leveraging AI?
New innovative AI technology can be overwhelming—we can help you here! Using our AI solutions to Extract, Comprehend, Analyse, Review, Compare, Explain, and Interpret information from the most complex, lengthy documents, we can take you on a new path, guide you, show you how it is done, and support you all the way.
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— When comparing or reviewing information in multiple documents (click on the image above to enlarge), we provide AI with precise questions for which we seek answers. All the documents in scope will be asked the same questions, and we can cross-check the answers. AI will read and comprehend all the information within documents and provide comprehensive answers. These automated actions can save us time, and AI will deliver the required results — https://myAI.v500.com
Now you know how it is done, make a start!
Download Instructions on how to use our aiMDC (AI Multiple Document Comparison) PDF File.
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Maksymilian Czarnecki
The Blog Post, originally penned in English, underwent a magical metamorphosis into Arabic, Chinese, Danish, Dutch, Finnish, French, German, Hindi, Hungarian, Italian, Japanese, Polish, Portuguese, Spanish, Swedish, and Turkish language. If any subtle content lost its sparkle, let’s summon back the original English spark.
