NEW REPORT: The State of CLM and AI-Powered Contract Intelligence

How Emerging Technologies Are Changing Government Contracting

As governments strive to adapt to digital advancements, integrating emerging technologies becomes paramount—particularly for the future of contracting.

In a new video for FedScoop, Sean Garcia, director of professional services for the public sector at Icertis, shares his insights on the top trends influencing government contracting and how solutions like contract intelligence and management are revolutionizing the landscape.

Among the trends he discusses are increased focus on cybersecurity compliance, the pursuit of meaningful predictive analytics and integrations between the buy and sell side, as well as the rise of contract lifecycle management systems with generative AI.

“Gen AI is about to become ubiquitous,” Garcia says. According to a survey Icertis sponsored in the fourth quarter of 2023, 85% of respondents believe that generative AI will predominantly be used in contracting by 2026, and it will result in better compliance outcomes.

Garcia also discusses how solutions like Icertis’ AI-driven contract lifecycle management software integrate seamlessly with established federal systems like SAM.gov and ACQUISITION.gov, ensuring a smooth transition.

These advancements in contract management solutions for the government market are key to streamlining the contracting process by reducing errors and maximizing efficiency. “I believe with some of these modern systems we can reduce timeframes down significantly for our customers,” Garcia says.

Learn more about how Icertis’ AI-powered contract management solution improves contract performance and compliance with federal regulations on our solutions page for Public Sector.

This article was originally published by FedScoop.

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