JP Morgan implemented COIN, an AI-powered Contract Intelligence platform using natural language processing (NLP), machine learning, and image recognition to automate the analysis of complex legal and financial contracts. COIN extracts key clauses, interprets terms, identifies risks, and standardizes contract language, drastically reducing review time and errors while improving compliance and operational efficiency.
- Reduced contract review time from 360,000 hours annually to seconds
- Processed 12,000+ commercial credit agreements per year
- Extracted ~150 key attributes per contract automatically
- Significant reduction in operational costs and human error
- Improved regulatory compliance and risk assessment
Manual contract review was extremely time-consuming, costly, prone to human error, and lacked scalability amid growing contract volume and complexity
COIN platform leverages unsupervised machine learning, NLP, image recognition, and cloud infrastructure to scan, extract, classify, and analyze contract clauses autonomously
- Drastically faster contract review and processing
- Higher accuracy and consistency than manual reviews
- Reduced legal operational costs
- Freed legal teams to focus on strategic tasks
- Scalable handling of large contract volumes
- Enhanced compliance and risk management
