How AI Extraction Works
When you upload a contract to Smart Drive, our AI analyzes the document through multiple stages.Processing Stages
Text Extraction
For PDFs and images, OCR extracts readable text. For Word documents, text is extracted directly.
Term Extraction
Contract terms, dates, amounts, percentages, and other key data points are extracted.
Extracted Data Categories
Contract Summary
| Field | Description |
|---|---|
| Contract Type | Recording, publishing, distribution, etc. |
| Language | Primary language of the document |
| File Date | Date the file was created/uploaded |
| Summary | AI-generated summary of key terms |
Parties & Entities
The AI identifies all parties mentioned in the contract:- Party Name - Legal name of the entity
- Party Type - Label, artist, publisher, distributor, etc.
- Role - Their role in the agreement
- Contact Info - Address, email, phone when available
Dates & Duration
| Field | Description |
|---|---|
| Execution Date | When the contract was signed |
| Effective Date | When terms become active |
| Term Length | Duration of the agreement |
| Option Periods | Any renewal or extension options |
| Expiration Date | When the contract ends |
Financial Terms
The AI extracts detailed financial information:- Advances - Initial and subsequent advance amounts
- Royalty Rates - Percentages for different revenue types
- Accounting Periods - Semi-annual, quarterly, etc.
- Payment Terms - When and how payments are made
Royalty Splits
For each revenue type, the AI captures:- Revenue source (streaming, downloads, sync, etc.)
- Percentage splits between parties
- Any deductions or recoupable amounts
- Net receipts definitions
Recordings & Compositions
When contracts reference specific works:- Recording titles and ISRCs
- Composition titles and ISWCs
- Product commitment requirements
- Minimum/maximum track counts
Territory & Rights
- Geographic territories covered
- Rights granted (mechanical, performance, sync, etc.)
- Exclusivity terms
- Sub-licensing permissions
Reviewing Extractions
The Review Interface
When viewing an extracted contract, you’ll see:- Document Preview - The original contract with highlighting
- Extracted Data - Organized by category in editable forms
- Confidence Indicators - How certain the AI is about each extraction
- Source References - Links to relevant sections in the document
Confidence Levels
The AI indicates confidence for each extracted field:| Level | Indicator | Meaning |
|---|---|---|
| High | Green | AI is very confident |
| Medium | Yellow | Should verify |
| Low | Red | Likely needs correction |
Making Corrections
Extraction Templates
For common contract types, you can use extraction templates that define:- Which fields to extract
- Expected data formats
- Validation rules
- Default values
Creating a Template
Best Practices
Review high-value contracts carefully
Review high-value contracts carefully
For important agreements, take time to verify all extracted data, especially financial terms.
Correct errors promptly
Correct errors promptly
Making corrections helps the AI improve and ensures accurate data for analysis.
Use templates for consistency
Use templates for consistency
Create templates for contract types you upload frequently.
Check entity matching
Check entity matching
Ensure parties are correctly matched to existing entities in your CRM.
Retry Extraction
If extraction results are poor, you can retry:Next Steps
Custom Views
Learn how to create custom views to organize your contracts.