NEWS
New Conga research reveals AI ambition outpaces operational readiness in CLM
Conga, a company lining up commerce, has announced new research revealing that organisations are high on AI ambition but low on operational readiness in contract lifecycle management( CLM). Notably, 95 % of respondents report using AI to some degree within their CLM processes and 49 % say they are highly confident using AI with minimal oversight, despite only 38 % describing their CLM maturity as‘ integrated’.
“ With AI adoption accelerating, many organisations are moving faster in deployment than in discipline,” said Jason Smith, Global Director, CLM Product Launch at Conga.“ What we’ re seeing is not a technology gap, but a readiness gap. AI is exposing weaknesses in process, data quality and governance that CLM programs can no longer ignore.”
The survey of 250 senior leaders across legal, revenue, compliance and procurement highlights that many organisations remain in a phase of experimentation rather than transformation, creating added pressure on legal teams to manage contractual risk, compliance and oversight. Despite this pressure, 67 % of professionals surveyed report their company does not have a formal AI policy for use.
“ AI is accelerating the evolution of the legal function in ways we couldn’ t have predicted even two years ago,” said Logan Maley, General Counsel at Conga.“ CLM sits at the centre of that shift, connecting legal, finance, sales and procurement around a shared source of contractual truth. Organisations that mature their CLM programmes, and close the gap between AI readiness and adoption, will be the ones positioned to move faster and with less risk.”
Thomson Reuters and KKR announce joint venture for Thomson Reuters Global Print business
Thomson Reuters Corporation has announced that it has signed a definitive agreement to enter into a joint venture with KKR, a leading global investment firm. As part of the transaction, Thomson Reuters will sell a 51 % stake in its Global Print business to capital accounts advised by KKR. Thomson Reuters will receive approximately US $ 500 million in gross proceeds at closing and will retain a 49 % equity interest in the joint venture. Thomson Reuters will also maintain intellectual property rights and full editorial control over its content portfolio. This new joint venture will hold an exclusive licence to distribute the content in print and on ProView, Global Print’ s eBook platform.
The Thomson Reuters Global Print business provides legal and tax information in print format and via ProView to customers around the world and provides commercial printing services to a wide range of book publishers.
“ Thomson Reuters has built a highly regarded, trusted print platform that has become the gold standard for printed reference materials,” said KKR Partner Brian Dillard, Co-Chief Investment Officer for Global Atlantic.“ Building on KKR’ s experience with helping global corporations unlock value in their businesses, we see a compelling opportunity both to support the Global Print business as a standalone proposition and to help Thomson Reuters optimise its portfolio of businesses.”
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