On Thursday, contract life cycle management provider Agiloft unveiled several new capabilities and announced the launch of Prompt Lab, using generative artificial intelligence.

Prompt Lab aims to turn users’ data into generative AI prompts, and use the outputs to automate parts of the contract workflow. Specifically, Prompt Lab is launching with a set of five, prebuilt prompt templates for contract description, summary, generation, comparison and to summarize all associated documents related to a specific contract.