Use AI to Review Any Contract

Who needs a law degree when you have AI and a good prompt?

Author

Adam Greenbaum
August 24, 2023

Today on 🥯 Bagel Bots, we’re discussing:

  • 📈 Sharing secrets on scaling the business

  • 🧠 Fresh app of the day - Midjourney Inpainting

  • 📰 The latest AI and tech news

  • 🤖 Cool new apps for you to check out

  • 📃 Use AI to understand a contract without a law degree

  • 🏁 Winners keep going

(Read time: five minutes)

Why should you read Bagel Bots? Why does any of this matter? According to an IBM study, 40% of workers will have to reskill in the next three years due to AI. The true moral of the story is to learn how to use AI, or you'll be replaced by someone who does.

🚨 Below, you will learn how to use AI to ensure your contracts work for you.

Want to connect with me beyond Bagel Bots? You can also connect with me directly on Twitter (X) and LinkedIn. If you’re new here, you can read past posts and subscribe to Bagel Bots to get caught up.

💰 If you’re looking for investors or advisors for your AI product. I’m interested.

🧠 Fresh app of the day - Midjourey Inpainting

I saw this release and said, “Holy shit!” out loud, to myself, in my home office. Midjurney is already one of my top three AI apps, making it much cooler.

Inpainting will change so much about how we do graphic design, and it’s only going to get better and better.

I think the future of modeling and print advertising creation is about to be severely upended by this technology. You can create anyone or anything you want in seconds, and if the photo is slightly off, inpainting allows you to get it just right. Truly incredible.

💡 Fresh AI and tech news to consume.

My take: Think about how much time you spend on the internet. Think about how much data and engagement you create. What if you could harness your own personal data and sell it? This is such a brilliant idea for a startup.

My take: Crypto was a fad. NFTs were a fad. Is AI a fad? Maybe, but probably not. As someone who owns some Apes and Aliens and ETH (still), those things didn’t have the same utility as AI. The future is here, and it’s AI.

My take: AI prompting is the future of business. As someone who runs a SaaS company focusing on web design, marketing, and advertising, I can tell you that not just anyone can use AI to make great creative. You still need creative people doing it.

My take: Music, videos, and YouTube will never be the same again. I still think there is so much work that needs to be done on what YouTube is trying to do, but once they get it, media will never return to where it is today. Buckle up!

My take: If everything on social media is bullshit anyway, why not just lean into it? “It is more than just an app; it’s an expressive outlet that empowers new ways of connecting with friends through AI-generated visuals. We believe authenticity can shine through fantasy as much as reality.”

🤖 New apps for you to check out this week

Every one of these apps can help you with your company, career, side hustle, or personal project. I recommend diving deep into them all.

  • 🔗 Rapid Reply - Save 30 minutes a day writing emails and focus on growing your business

  • 🔗 Followr - Social Media on Autopilot. Automated scheduling, AI-assisted content creation, and advanced analytics to help you optimize your approach and elevate engagement on your social channels

  • 🔗 BlockSurvey - Experience AI-driven, privacy-first data collection platform

  • 🔗 Wanda - Wanda is a no-code, drag-and-drop platform that enables anyone to leverage generative AI and automate complex workflows with ease

  • 🔗 Trickle - An AI-driven workspace blending notes, tasks, and knowledge base for smarter, faster work

Check these fantastic platforms out, and let me know what you think. Reply to this email or tweet me directly.

📃 Use AI to understand a contract without a law degree.

I am not a lawyer, but I have seen enough contracts to know what to look for. If it doesn't, it doesn’t hurt to have someone else look it over.

My wife and I are ready to make some significant design changes to our home, and we’re in the process of hiring an interior designer. Through the process, we are receiving contracts and terms from different companies, and AI is watching my back through the process.

Open Claude.ai, upload the PDF, and enter this prompt:

Break down this contract and let me know if anything doesn't make sense or could be harmful for me.

And voila, it gave me insights. I knew this, but it was still sound reinforcement on the indemnification section—which the designer has now updated, thanks to Claude!

🔗 You can, and should, use Claude.ai here.

🏁 Winners keep going.

Being successful is hard. There is a reason the 1% are called the 1%. 99% of people want to be it's1 %, but it’s just so hard to get there.

The best advice I give friends, family, and employees is to keep going. Times will be good and bad, and 98% of people will quit. If you weather the storm, you’ll be far ahead of everyone else.

It’s that simple.

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