ndaOK, an innovator in AI-powered legal technology, announces the launch of its next-generation non-disclosure agreement (NDA) review system. This advanced solution leverages OpenAI's GPT-4 large multimodal model, a first among legal technology companies, offering unprecedented performance and efficiency in reviewing NDAs.
Capitalising on the computational power and versatility of GPT-4, ndaOK accurately reviews and edits documents based on a user's pre-determined requirements without the need for human assistance or input. This unique capability makes ndaOK faster and easier to deploy than any other AI-based contract review solution.
"ndaOK is pioneering the use of AI in contracts, and this release is a major leap in modernising legal services," says James Weir, ndaOK founder and CEO. "Unlike AI tools that require a knowledgeable user to guide the process, ndaOK simply does the work for you."
ndaOK addresses the inefficiency of human NDA processing by using AI and automated workflows to review, revise, and execute NDAs. ndaOK is faster and more cost-effective than any other available solution, and it has been built from the ground up to handle the unique characteristics and nuances of legal agreements.
"ndaOK's automated solution is already transforming the way companies process NDAs," says Weir. "Our technology cuts review times by over 90%, helping our users start substantive discussions faster."
NDAs are an unavoidable hassle for most companies. Private equity firms and investment banks, in particular, must often execute one before evaluating a transaction. Each year, U.S. companies spend billions of dollars and countless hours processing NDAs. Before ndaOK, firms had no choice but to dedicate valuable resources to reviewing NDAs that could have been directed to more valuable work.
ndaOK was initially made available to a select group of private equity firms and investment banks in early 2021, and it has since expanded to serve the needs of the deal community, enterprise sales teams, and real estate investors.
About James Weir and ndaOKJames Weir is the Founder and CEO of ndaOK. As an attorney and technology executive, James experienced the inefficiencies and delays caused by NDAs firsthand. His frustration led him to create ndaOK, an AI solution for processing NDAs. Built using OpenAI's GPT-4, ndaOK eliminates the pain associated with reviewing, approving, and executing NDAs.
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