From Two Days to 15 Minutes: The AI Contract Revolution
AI is helping to make contract administration efficient.
CONSTRUCTION BLOGS
“Hey Ali! Look at this new AI tool. It will make the whole contract in just a few steps,” said Saad, quite excited as he looked at the results from the AI contract management software.
Ali seemed to be listening, but he was still focused on the preparation of the million-dollar project contract.
“Oh my God!.. Saad, just look at it… it has built-in formats of FIDIC, NEC, and JPC. You just select the type of contract, the form of contract, add any customization, and the rest of the work will be done by the software. Within minutes, we will have the final contract!” said Saad, now even more excited, as he tried to tap Ali with his hand to pull him into his excited moment.
Ali first tried to ignore him and resist his invitation, but Saad kept pulling him. Ultimately, out of frustration, Ali turned towards Saad. “What! We have to prepare it in two days before the meeting with the CEO, and you are not taking it seriously!” said Ali, anger reflected on his face.
Saad watched him quietly for a while, then leaned back in his seat and said, “Okay, let me share my work within an hour.”
Ali turned back to his seat and then began to feel guilty. He pushed his chair closer to Saad and said, “Show me that software.”
Saad turned his screen toward Ali, smiled, and opened the window. Ali looked at it with a critical eye. In the back of his mind, he thought he would find some flaw in it and quiet Saad. But as he looked at it more closely, he became increasingly interested. It had a user-friendly interface with all the required systems necessary to make a contract.
“Send me the link,” said Ali, and returned to his seat.
Saad copied the link and shared it with Ali. He immediately opened it and started playing with it. He thought, why not test it with my current assignment? So he uploaded his document and wrote the intended prompt. Within a few minutes, the software showed him a draft that was close to his intent. He customized it a bit and downloaded the file. He matched it with his contract, and amazingly, it was almost accurate. He saved the file in the folder and continued his work.
After two days, they attended the meeting. The CEO looked at the contract and pointed out some mistakes. Then he said, “Why don’t you guys use AI software to prepare it? It will cost less time and effort, and I think these mistakes could have been avoided.” He looked at Saad and Ali.
“Yes, Sir, we tried it,” said Ali in a slow voice.
“So what were the results?” asked the CEO.
“Let me show you,” said Ali, and opened the AI-generated file on the screen. Everyone began to study the contract.
“Wow! The software has really done the work well. It is almost matching your version,” said the CEO.
“Yes, Sir,” replied Ali.
“How much time did it take?” asked the CEO, looking at both of them.
“Sir, maybe five minutes or less,” replied Ali.
“Oh, great! And you took two days to make it,” said the CEO.
“Yes, Sir,” replied Ali.
“Why didn’t you show me at that time? We could have easily saved those two days,” the CEO said angrily.
“Sir, actually, we thought it was new software and might not be acceptable at this stage,” said Ali, a bit hesitant.
“No, Ali! That’s not an excuse. If you find something more productive that takes less time, never hesitate to show me. We are a progressive company. If any new invention benefits us, just grab it!” said the CEO.
“Yes, Sir,” said Ali.
“Both of you contact this company and arrange a meeting with them. Let us explore it further, and if it is feasible, implement it,” said the CEO.
“Noted, Sir,” said Ali, writing it down in his diary.
After an hour, the meeting was adjourned, and both Ali and Saad headed back to their office.
“Well, today we introduced something really beneficial for the company,” said Saad, still excited.
There was a thoughtful expression on Ali’s face.
“Yes, we did… but have you realized? That contract was made on my PC, with all the prompts and technical inputs done by me,” said Ali, looking at Saad.
“Yes, you should have at least taken me into confidence,” said Saad.
“That’s the real problem. Look, that software has replaced us. The work that required two resources and two days is now done in 15 minutes under the supervision of a single resource,” said Ali, looking at Saad.
This time, Saad went into a thoughtful expression.
“Don’t you think we have dug our own grave with our own hands?” said Ali, smiling.
Saad looked at him and replied quietly, “Maybe…”