Syntexys and Acubed by Airbus Complete Contract Analytics Technology Transfer
San Jose, Calif., November 29, 2018 - Acubed by Airbus, the advanced projects outpost of Airbus in Silicon Valley, today announced that it has transferred contract analytics technology developed under Project Leibniz to Syntexys Inc., a document analytics startup founded by former Acubed team members.
Much of the business of large companies is captured in contract language. At Acubed, Project Leibniz developed natural language processing (NLP) and machine learning tools that they applied to a broad corpus of real-world contracts. With capabilities far beyond traditional contract lifecycle management (CLM), these tools yielded unique strategic insights and answers to key business questions that previously were intractable. To realize the full potential of this technology in a broader market, Acubed and Airbus have transferred this technology to Syntexys.
“The challenge with complex contracts intrigued me from the beginning,” said Neville Newey, CEO of Syntexys. “Contracts are a perfect domain in which to apply advanced NLP and artificial intelligence (AI). Working closely with Acubed teams on contract analysis enabled us to validate both the specific need for analysis tools and the benefits. We are delighted to continue our work to build and bring to market the most advanced contract understanding system available today.”
“Projects at Acubed generally fall into two categories: discovery, and capability development. These prepare Airbus for emerging strategic surprises, and enhance existing capabilities within the company,” said Rodin Lyasoff, CEO of Acubed. “In some cases our projects have promising applications outside Airbus, and we encourage team members to pursue those opportunities, so that the technology can have the most meaningful impact. It’s inspiring to see the passion of the Leibniz team live on in the work of Syntexys. I wish them much success.”
For more information please visit: https://www.syntexys.com/