Workday, a leading provider of enterprise cloud applications for finance and human resources, has introduced a new Custom AI Model Library for its Workday Contract Intelligence Agent, powered by Evisort. This advancement significantly enhances contract management by leveraging artificial intelligence to streamline contract review and improve business processes. The library features over 120 pre-built AI models, each expertly trained to identify vital contract elements such as key clauses, potential risks, detailed line items, and essential terms across various contract documents. Integrating this AI library into the Contract Intelligence Agent automates the traditionally labor-intensive contract review process, reducing the time and resources required to analyze complex contract language. This automation helps minimize errors and ensures precise identification of important contractual provisions. The collaboration between Workday and Evisort combines cutting-edge natural language processing (NLP) and advanced machine learning techniques tailored for legal and contract documents, addressing challenges like slow turnaround times, compliance risks, and limited visibility into contract obligations. The Custom AI Model Library offers users the flexibility to customize and expand AI capabilities to fit diverse contract types and business needs, benefiting industries such as finance, healthcare, technology, and manufacturing by aligning automated contract insights with specific regulatory and operational standards. This initiative aligns with a broader enterprise software trend toward AI-driven workflow automation and data-enabled decision-making, enabling legal and procurement teams to extract actionable intelligence from unstructured contract data, negotiate better terms, and proactively mitigate risks. Furthermore, the AI models support compliance by flagging problematic clauses and ensuring adherence to internal policies and external regulations—critical for industries with stringent compliance requirements where contract errors carry significant legal and financial consequences.

Beyond efficiency gains, the Custom AI Model Library fosters enhanced collaboration among legal, finance, procurement, and business units by centralizing contract data in an accessible and interpretable platform, promoting faster response times and improved governance. As regulatory complexities increase and demand for optimized contract management grows, innovations like Workday’s Custom AI Model Library are shaping the future of contract intelligence. By harnessing advanced AI, organizations can accelerate contract lifecycle workflows and derive strategic insights that confer competitive advantages. Workday’s commitment to embedding AI-driven solutions across its product suite reinforces its leadership in providing transformative tools that boost productivity and operational effectiveness. The launch of the Custom AI Model Library for the Contract Intelligence Agent exemplifies this forward-thinking approach to intelligent automation within enterprise workflows. In summary, Workday’s introduction of the Custom AI Model Library marks a significant breakthrough in contract management technology. With access to over 120 sophisticated pre-built AI models, businesses can efficiently and accurately identify and analyze critical contract components. This advancement not only streamlines contract review but also enhances risk management, compliance, and overall contract governance, representing a key milestone in the evolution of AI-powered enterprise solutions.