Legal

Extracting contract obligations

AI assists with identifying and extracting obligations from contracts so legal teams can review commitments more efficiently.

Why the human is still essential here

A lawyer must verify the extracted obligations, interpret context, and confirm the business and legal implications before relying on the output.

How people use this

Renewal and notice deadline extraction

AI identifies renewal terms, termination windows, and notice periods across contracts so legal teams can track critical dates.

Ironclad AI / Evisort

Compliance obligation abstraction

AI pulls out contractual duties related to audits, reporting, privacy, and security into a structured obligations list for review.

Icertis

Due diligence clause extraction

AI extracts assignment, change-of-control, indemnity, and consent provisions from large contract sets during diligence exercises.

Litera Kira / Luminance

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AI Governance and Compliance: How I Use AI as In-House Counsel?

AI Governance and Compliance: How I Use AI as In-House Counsel?

If you had asked me in 2022 how I used AI in my legal work, I probably would not have had a substantive answer. Since early 2023, AI has become part of my regular workflowβ€”for summarising emails, organising information, preparing first drafts, extracting contract obligations, creating checklists, and supporting legal research.

However, every AI tool cannot be used for every legal task. A tool approved for email summaries may not be approved for contract redlining, depending on its licensing, data-processing terms, security controls, and organisational guardrails.


That is why AI governance matters.

The key questions are:

What data can be entered?

Is the tool approved for the specific use case?

Will the data be retained or used for training?

Is human review required?

Can the output be verified and audited?


The legal AI market is projected to grow from USD 3.11 billion in 2025 to USD 10.82 billion by 2030. As adoption grows, legal teams must focus not only on using AI efficiently but also on using it responsibly. The future of legal AI will depend on innovation with accountability.

Read more: MarketsandMarkets Legal AI Software Market Report

#AIGovernance #LegalAI #LegalTech #InHouseCounsel #Compliance #ResponsibleAI #LegalInnovation #FutureOfLegalWork

SK
Sishmita KumariLegal Counsel
Aug 10, 2026