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AI In Contract Management System Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
AI In Contract Management System Market SizeAccording to new survey, global AI In Contract Management System market is projected to reach US$ 1340 million in 2029, increasing from US$ 291 million in 2022, with the CAGR of 26.5% during the period of 2023 to 2029.
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AI In Contract Management System Market
AI-powered contract management tools can analyze contracts to identify potential risks, such as noncompliance or contract breaches. This can help organizations mitigate risk, reduce the likelihood of legal disputes, and protect business interests.
Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole AI In Contract Management System market research.
As an important force driving a new round of scientific and technological revolution, artificial intelligence has been of national strategic importance. Many governments introduces polices and increase capital investment to support AI companies. The Digital Europe plan adopted by the European Union will allocate €9.2 billion on high-tech investments, such as supercomputing, artificial intelligence, and network security. In order to maintain its leading position, the United States will increase its investment in artificial intelligence research and development in non-defense fields, from US$1.6 billion to US$1.7 billion in 2022. According to the latest data released by IDC, global artificial intelligence revenue was US$432.8 billion in 2022, a year-on-year increase of 19.55%, including software, hardware and services.
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Segment by Type
• Natural Language Processing (NLP)
• Machine Learning (ML)
Segment by Application
• Financial
• Legal
• Retail
• Other
By Company
Coupa, LinkSquares, ContractPod Technologies, Agiloft, SAP Ariba, Cortical, Smartdot Technologies, PowerLaw AI, Icertis
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