KPMG U.S. secures new patent for AI solution built on Ignite

By Melanie Batley

KPMG U.S. has secured a new patent for an AI solution: Cognitive Contract Management (CCM).

CCM provides a configurable solution to read documents, extract key context from those documents and interpret information in a standardized way. It parses relationships among sets of documents and saves results and analysis as structured data.

Cognitive Contract Management is a solution within the Ignite portfolio, the firm’s artificial intelligence platform. KPMG Ignite is one component of KPMG’s intellectual property portfolio that builds on strategic investments in emerging technologies, as well as partnerships with some of the world's leading technology companies, to develop and deploy technology-based solutions to complex business challenges.

“We are delighted that CCM was granted a patent. The patent verifies the value we are offering our clients and is an important addition to our intellectual property portfolio,” said Martin Kaestner, Principal, Advisory, US AI and Data & Analytics Lead. 

CCM has prebuilt and customizable components within an end-to-end workflow. Its functionality can be expanded and configured to process electronic contract files, recognizing different patterns in contracts to extract data and automating contract management activities.

CCM learns from subject matter experts and is configured to handle numerous contract types to support the particular objectives of an intelligent contract management approach.

CCM provides an automated, time-saving solution to extract key information from documents. Our clients benefit from CCM solutions through enablement of contract analysis at scale – examining risk, assessing legal compliance, and identifying commercial leakage, among other use cases.

Key items in this patent include:

  • A combination of techniques (active learning, semantic similarity search, etc.) that allows subject matter experts to identify and label data efficiently
  • An easily configurable interface between custom and standard architectures to iterate among data sets and machine learning algorithms
  • Integration of machine learning and business rules to leverage subject matter expertise alongside the patterns identified by algorithms
  • The ability to ask and answer questions that account for sequences or dependencies that might occur across a set of interrelated documents

To obtain more information or to speak with a KPMG expert, contact Melanie Batley.

Media Contact

Melanie Malluk Batley

Melanie Malluk Batley

Associate Director, Corporate Communications, KPMG US

+1 201-307-8217

 

 

 

 

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