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UK legal giant Allen & Overy has launched ContractMatrix to help lawyers draft standard legal contracts. Over 1,000 lawyers are already using it, and five companies plan to trial it in January next year. Developed in collaboration with Microsoft and AI startup Harvey, the tool aims to improve lawyers' efficiency and reduce costs. It can draft non-disclosure agreements and merger contracts, and has even been used to generate the world's first 100% AI-generated contract.

{"Point 1":"Global legal technology solutions leader Litera partners with Microsoft to apply generative AI in legal contract analysis.","Point 2":"Litera utilizes Microsoft's Azure OpenAI's GPT-3.5 large language model for model fine-tuning and pre-training.","Point 3":"Kira integrates generative AI to enable features such as summarization, interpretation, and verification inquiries for legal contracts."}