PotiLex: An artificial intelligence-based platform for contract management.
Contract management and efficiency; artificial intelligence; lawtech.
This study analyzes the use of artificial intelligence in technological solutions to support legal activities. It explores the offer and availability of contract management software based on artificial intelligence as a tool to address the problem of insufficient corporate experiences in contract management. The research focuses on the need for automated contract administration approaches to achieve the objectives of effectively supporting contract management at the national economy level. The research adopts a quantitative approach to validate the proposed solution in relation to the challenges of contract management. We collected critical data on the expectations and pains experienced by managers regarding the availability of platforms for contract management. The results were obtained through interviews, the implementation of the proposed solution, and the analysis of market positioning indicators. The study is in the phase of developing a minimum viable product suitable for wide adoption. This research offers an innovative contribution by emphasizing the need for an interdisciplinary approach to contract management, overcoming the traditional legal perspective, notably with the use of artificial intelligence despite all the challenges that the technology presents. By proposing the development and the adoption of innovative and technological processes, this study presents practical and social implications for advancing the global economy. The results highlight the importance of investing in the development of automation technologies to achieve effective contract management as a competitive advantage and a key factor for organizational success.