Concord’s Ethical Approach to AI

Concord was founded to transform how businesses create, manage, and optimize their contracts. We recognized the complexity and inefficiency in traditional contract processes and built a platform to help organizations streamline workflows with intuitive and powerful software.

Now AI (artificial intelligence) represents the next evolution in contract lifecycle management. At Concord, we’re dedicated to using AI to enhance how businesses handle their contracts while maintaining the human relationships and expertise that are essential to successful agreements. We believe that AI should augment human capabilities, not replace them. That’s why we continue developing AI features that empower contract professionals and legal teams to work more efficiently and effectively every day.

At Concord, we’re committed to doing the right thing. Our approach to AI is rooted in trust, transparency, and accountability. Our AI Ethics principles provide a framework that informs AI product development. We strive to be transparent with our customers and partners about how we develop and deploy AI across our platform.

Security is our priority

We implement robust safeguards for our AI tools to ensure the protection of our customers and their sensitive contract data. We develop features with a focus on preventing unauthorized access to customer information. As part of our comprehensive security program embedded within our Product and Engineering teams, we implement security measures to protect against potential vulnerabilities, attacks, or undesirable consequences. Concord is dedicated to implementing industry-standard cybersecurity practices. You can learn more by visiting the Concord Trust Center.

We respect privacy and our customer’s data

We understand the critical importance of protecting and promoting privacy when we develop AI features for contract management. We recognize how sensitive our customers’ contract data is to them, and we value our customers’ trust and privacy rights. As we develop AI capabilities, we ensure compliance with applicable data protection laws and regulations. We believe in giving users control and choice over their data, including options to determine how AI interacts with their contract information.

We believe in human accountability

We believe in the importance of human oversight for our AI tools. Accountability in AI use is crucial to promote trust, fairness, and responsible AI practices. At Concord, humans are accountable for our AI products and tools. This includes accountability for design choices, training data selection, and the overall impact of AI systems on our customers’ contract processes. This approach allows us to continuously reflect and iterate on our solutions while identifying risks associated with AI technologies. We ensure that AI products are developed and deployed in alignment with Concord’s values.

We moderate and mitigate bias

We make concerted efforts to minimize bias and ensure fairness in the development and use of AI in our contract management platform. We work to identify and address biases that may emerge, striving to create AI tools that treat all users fairly, irrespective of their background or characteristics. We educate our Product and Engineering teams on fairness principles so that the data used in our models represents diverse contract scenarios, industries, and legal frameworks.

Transparency is the key to ethical AI

We believe that the ethical implementation of AI tools in contract management relies on transparency and the ability to explain functionality. It is essential to have a clear understanding of the origin, collection methods, and processing history of the data used to train and operate AI systems. Understanding these origins helps establish the reliability and trustworthiness of the data and enables us to identify potential biases, inaccuracies, or limitations. We have invested in providing our customers with resources to enable understanding of how Concord uses AI, including clear indications when an automated system is being used and how it contributes to their contract management experience.

Embracing growth and progress

We recognize the importance of continual learning, improvement, and investment in development and education to deepen our understanding of AI in the contract lifecycle management space. We actively welcome feedback from our users, legal experts, and the broader community, and we value their insights as we refine our practices and technologies. Together, we strive to evolve and enhance our approach, be at the forefront of ethical AI advancements in legal tech, and continue to make our tools and products better for everyone.

Limitations

While AI products can be valuable tools to boost productivity in contract management, it’s important to understand that AI outputs are not perfect, for a number of reasons. The performance of AI systems is based on the data they have been trained on, which can lead to errors or inaccuracies when presented with new or unexpected situations. Concord’s AI products may occasionally provide incorrect, biased, or misleading responses. Avoid sharing any sensitive information in your prompts that is not directly related to the contract at hand and always check AI-generated outputs for accuracy.

Concord is committed to reducing the negative impact of AI limitations by focusing on trust, transparency, and accountability. Our AI Ethics principles provide a framework that informs AI products development. Our AI Trust FAQs address security and privacy related questions about Concord’s AI capabilities. We strive to be transparent with our customers and partners about how we develop and deploy AI across our organization.

Note that information provided on this website may change as we update our AI features.

Frequently asked
questions

  • How does Concord use AI in its contract lifecycle management platform?

    Concord uses AI to enhance various aspects of the contract lifecycle, including contract analysis, clause recommendation, risk identification, and obligation extraction. Our AI is designed to accelerate review processes, improve accuracy, and provide insights from your contract data./

  • What safeguards does Concord have in place to protect my contract data?

    Concord implements multiple layers of security to protect your data, including encryption, access controls, and regular security audits. Our AI systems are designed with privacy by design principles, ensuring that sensitive contract information is protected.

  • Can I opt out of AI features in Concord?

    All Concord plans include AI features by default. Specific instructions for managing AI settings are available in your account management dashboard.

  • Does Concord use my contract data to train its AI models?

    Concord does not use customer contract data to train our AI models without explicit permission. We maintain strict boundaries between customer data and model training to ensure privacy and confidentiality./

  • How does Concord ensure AI accuracy in contract analysis?

    Our AI systems are continuously monitored and evaluated by human experts. We implement quality control measures to verify AI outputs and provide transparency about confidence levels in AI-generated suggestions.

  • Does Concord’s AI replace the need for legal review?

    No. Concord’s AI is designed to augment, not replace, human legal expertise. While our AI can identify patterns and flag potential issues, we recommend that all contracts undergo appropriate legal review according to your organization’s policies.

  • How does Concord address potential bias in AI contract analysis?

    We actively work to identify and mitigate potential biases in our AI systems through diverse training data, regular testing, and human oversight. Our development process includes fairness assessments to ensure our AI treats all contracts equitably.

  • What happens if the AI makes a mistake in contract analysis?

    Our platform is designed for human oversight of AI outputs. Users can review, modify, or reject AI suggestions. We also have feedback mechanisms to report and address any AI errors, which helps improve system performance over time.

  • How transparent is Concord about its AI functionality?

    We are committed to transparency in how our AI functions. We clearly indicate when AI is being used, provide information about AI confidence levels, and explain the rationale behind AI-generated suggestions whenever possible.

  • How does Concord stay current with evolving AI regulations?

    Our legal and compliance teams actively monitor regulatory developments in AI governance. We design our AI features to comply with current regulations and adapt our approach as new frameworks emerge.