Ivo AI

What is Ivo AI?

Ivo AI is a platform that uses artificial intelligence to help legal teams make contract negotiation smoother and faster. It acts as an assistant for lawyers, offering suggestions for revising counterparty language, automatically creating document redlines, answering questions about contracts, and assembling plain-language checklists for different scenarios. Ivo AI is built on OpenAI’s GPT-4 model, which is strong at understanding and processing language, so it can review agreements thoroughly and provide suggestions based on your usual contract terms.

Who created Ivo AI?

David Torchetti created Latch, the company behind Ivo AI. It first launched on December 6, 2021. Latch focuses on making contract review accurate and efficient for legal teams negotiating contracts. The company emphasizes business-grade security, allows customization to match specific legal language, and works with Microsoft Word, Google Docs, and PDFs. Latch can suggest redlines, help manage internal discussions with AI-generated issue lists, and speed up contract drafting, saving time and money.

What is Ivo AI used for?

Ivo AI supports legal teams throughout the contract negotiation workflow:

• Suggests revisions to counterparty language based on your standard contract positions.
• Automatically creates redlines and inserts them directly into documents.
• Provides a question-and-answer interface for navigating agreements and understanding specific clauses.
• Assembles simple, plain-language checklists for various scenarios and confirms documents match the points on them.
• Lets you accept or switch between suggestions and jump directly to the parts of agreements that matter most.
• Supports compliance review against your standards.
• Generates AI-driven issue lists to help manage internal discussions.
• Runs as a cloud-based tool accessible from anywhere.

It’s a good fit for companies that handle a high volume of contract negotiations, and you can schedule a demo to see its features.

Who is Ivo AI for?

Ivo AI is designed for legal professionals and legal teams that regularly draft, review, and negotiate contracts. It’s most useful for organizations looking to speed up contract drafting and negotiation while keeping data private and secure.