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SCAI SIGNED

Smart Contract Analytics using Artificial Intelligence

Total Cost €

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EC-Contrib. €

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Partnership

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Project "SCAI" data sheet

The following table provides information about the project.

Coordinator
LEGARTIS TECHNOLOGY AG 

Organization address
address: RAMISTRASSE 5
city: ZURICH
postcode: 8001
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Switzerland [CH]
 Project website http://www.legartis.ai
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-01-01   to  2019-04-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    LEGARTIS TECHNOLOGY AG CH (ZURICH) coordinator 50˙000.00

Map

 Project objective

The current global market for contract management is estimated in more than € 937 million. Still, the activities involved in contract managing are mostly carried out manually, which entails challenges such as the tracking of deadlines, keeping up with changes in regulations and enforcing company policies, resulting in average costs of 9% of the company’s annual revenues. The only help that professionals have are basic and inefficient tools that do not cover the whole contract lifecycle, forcing professionals to use more than 6 different software tools to carry out their job. Our new solution SCAI, provides a complete and reliable tool for all professionals managing legal documents by identifying provisions and comparing them against regulations and company policies, thus saving 90% of the time needed for document review. Based on Artificial Intelligence, SCAI combines an advanced Machine Learning engine with Natural Language Processing, achieving a recognition accuracy similar to humans. In addition, SCAI provides multilingual support that allows to compare laws and policies across different languages, which makes it a truly unique solution that outcompetes existing solutions and which specially addresses the needs of European companies. Thanks to this project, we expect to expand and internationalise our product from Switzerland, where our company is based, to Germany and Austria in a first commercialization phase, followed by France and Belgium, UK, Ireland and Spain. We plan to have a customer base of 60 large companies and 200 medium companies after 3 years of commercialization.

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The information about "SCAI" are provided by the European Opendata Portal: CORDIS opendata.

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