In this AL TV Product Walk Through, CMO Steve Levine, takes us through some of its capabilities, especially the way that it takes a semantic approach to contract analysis and extraction. For example, it can extract a date from a lease and assign it to the right legal term even if the clause where the date is located doesn’t mention that term. It does this by looking at the context.
It can also compare two clauses from different versions of the same document and show if they are similar, based not on the exact word use, but the actual meaning of the words used as a whole. I.e. two clauses may appear to be different on the page, but Cortical will analyse them and show they have the same meaning.
Levine also stated that Cortical can get reliable results with a training set as small as 50 to 100 documents. This again is largely down to the semantic folding approach, which he described as a different methodology to the statistically based approaches used by many NLP systems.
