ChatGPT is a powerful AI tool that understands human input and answers questions in a matter of seconds. Here are 5 ideas for using ChatGPT with contracts – learn how to use AI to power up your daily contract management!
The use cases for ChatGPT and contracts in the following video are done by using the secure ChatGPT integration feature of Zefort’s smart contract management solution. If you use the public version of ChatGPT, please check out our blog post on ChatGPT and privacy.
#1: Summarizing a contract with ChatGPT
Need to understand the essentials of a long, complex contract quickly? Let ChatGPT do the reading for you and provide you with a short summary of the key points in a matter of seconds.
ChatGPT prompt: “Write me a short summary of this contract”
#2: Searching for contract details with ChatGPT
Want to find a specific detail from a long contract? Rather than spending your time on browsing, reading or even firing up the search function, let ChatGPT find the needle from the proverbial haystack for you.
ChatGPT prompt: “What is the payment term?”
#3: Getting a list of specific pieces of information
Looking for a comprehensive list of specific details in a contract, like contractual dates, contract parties or personal data? An easy task for ChatGPT.
ChatGPT prompt: “List me all the personal data in this contract”
#4 Ask ChatGPT for explanations of specific terms or clauses
Not sure what a specific term or clause means? No problem – instead of heading to Google or the colleague next to you, let AI explain it.
ChatGPT prompt: “Explain the following text”
In Zefort, there’s even no need to copy & paste text: simply highlight the text to get an explanation!
#5 Translate contracts with ChatGPT
Not all contracts are written in a language that you know. ChatGPT is fantastic for getting quick translations: you can get a summary of the contract in the language you want or even translate the entire document.
ChatGPT prompt: “Tell me about this contract [in English/Finnish/Spanish…]”
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