Adobe has announced a significant update to its Acrobat software, introducing contract intelligence capabilities to its AI Assistant. This new feature enables the AI chatbot to automatically recognize when files and scanned documents are contracts and summarize complicated language, making it easier for users to understand key terms and dates.

The Acrobat AI Assistant, available as a $4.99 per month add-on for Acrobat users with free or paid individual accounts, can now surface key terms, generate citations, and recommended questions for specific documents. Additionally, it can compare changes across up to ten different versions of a contract to check consistency and discrepancies. This should make it easier to spot important information in lengthy contracts, such as specific policies, charges, and dates that may otherwise get buried in walls of text.

According to Adobe, the aim of this feature is to save users time that they would otherwise spend trying to understand often long and complex documents. A recent survey found that 70 percent of consumers have signed agreements without knowing all of the terms within them. Abhigyan Modi, Adobe Document Cloud lead, stated that "customers open billions of contracts in Adobe Acrobat each month and AI can be a game changer in helping simplify their experience."

The contract intelligence update is available worldwide starting today on desktop, web, and mobile, with English being the only supported language for now. Adobe has promised to add more languages in the future. This update demonstrates Adobe's commitment to leveraging AI to improve user experience and streamline document management.

The implications of this update are significant, particularly in industries where contracts are a crucial part of daily operations. By automating the process of understanding complex contract language, Adobe Acrobat's AI Assistant can help reduce errors, increase efficiency, and save time. As AI technology continues to advance, it will be interesting to see how it transforms the way we interact with and manage documents.

In conclusion, Adobe's latest update to Acrobat's AI Assistant is a significant step forward in harnessing the power of AI to simplify complex document management. With its ability to summarize contract jargon, this feature has the potential to revolutionize the way we work with contracts, making it easier for users to understand and navigate these often daunting documents.