For lawyers in business-oriented practices, whether starting small businesses, large corporate clients, or serving as corporate counsel, contracts play a huge role in day-to-day operations. They govern risk, revenue and relationships, but managing them effectively remains a daunting task. At every stage of life, contracts require attention and maintenance.
Even with CLM (contract lifecycle management) platforms, you spend too much time searching for details, tracking dates, and re-entering the same data across systems. Luckily, it’s 2025 and artificial intelligence is really good at summarizing and extracting information from documents. Concord leveraged cutting-edge tools to create an AI-centric system to help law firms and legal teams.
Concord AI tools—AI Extraction And AI co-pilot– deserve serious attention. These tools offer AI that goes beyond simple functionality. They are intelligent and accessible in a way that saves time, eases the burden on lawyers, and improves client service.
No lawyer starts with a blank screen when drafting a contract for a client. Nor should we expect our contract management systems to be useful only “in the future.” A truly valuable tool improves both your current and future state.
Concord AI Extraction analyzes your library of existing contracts and retrieves relevant details. As you add contracts to the system, Concord automatically extracts essential terms: parties, effective dates, renewal windows, termination notice periods, dollar amounts, applicable law, and more.
AI Extraction’s accuracy impresses, even with complex or multi-party deals. Above all, the process is transparent. Once Concord has extracted the terms, you can review and adjust all fields before finalizing. The result is a set of structured data from what was previously a jumble of static documents.
What was previously folders of Word and PDF files, perhaps with a “seasoning” of a sporadically updated Excel spreadsheet, becomes an organized information system, complete with reporting capabilities.
This alone changes the role of a legal operations team or in-house legal advisors. Instead of digging through folders or threads to answer, “When is this contract renewed?” or “What is the payment obligation?” just search or filter. You can even generate reports showing all contracts with 60-day renewal terms or group your exposure based on deal value.
Concord AI Copilot: legal information on demand
Then there is AI co-pilotConcord’s new conversational assistant. Think of it as a chatbot for your contracts, one with real domain relevance and speed. Open any contract in Concord, activate Copilot and you will be able to ask plain language questions such as:
- “What are the main obligations of each party?
- “When will this agreement be renewed?
- “Are there any compensation clauses? »
Copilot responds instantly with contextual responses. It highlights relevant language in the document and often includes helpful summaries.
Above all, Copilot does not replace the legal analysis of the lawyer. On the contrary, Copilot helps the lawyer perform this analysis in a way that is both faster and more thorough than before.
Copilot does not attempt to “replace” legal interpretation: it improves it. Copilot helps you get oriented faster, spot red flags earlier, and reduce context switches during contract reviews.
In this role, Copilot enhances first-pass reviews for routine deals or serves as a triage tool for busy internal teams.
Everything in Concord’s toolbox, from the AI triggers to the review interface, is designed with real-world legal workflows in mind: minimal clicks, clear audit trails, easy override controls. AI Extraction and Copilot redefine a lawyer’s contract stack. These tools accelerate existing processes And change what is possible.
Getting started with AI-powered contract management
If you’re tired of looking at Excel trackers or re-examining PDFs for dates you’ve already seen three times, Concord’s AI features are worth serious consideration. They won’t write your contracts for you, and that’s a good thing. But they will allow you to devote more time to legal thinking and less time to administrative tasks. Visit The Concord site to schedule a conversation.
Last updated August 5, 2025
