Lease management software provider Leascake has launched Cakebot: Approachable AI for Lease Management. Featuring a Lease chatbot and Lease clause summarization, the program is set to redefine how business owners and operators navigate the complexities of lease agreements, streamlining processes and empowering users with new found efficiency, according to a press release.
Leasecake is harnessing the power of large language models to simplify the leasing process. Users can ask Cakebot questions about their lease and get quick answers. The AI-powered tool analyzes and extracts vital information from even the most complex agreements and provides assistance on lease related questions. In addition, Cakebot offers concise, easy-to-understand summaries of otherwise complex legal critical clauses.
"The acceleration of generative and conversational AI technologies has reached a point where many commercial real estate challenges can be solved in seconds instead of hours or days," Dave Schrader, chief product officer of Leasecake, said in the release. "With Cakebot, customers can now speak directly with their own data in a conversational way, getting not only specific details, but real-time summarizations of lengthy contracts. In many ways Cakebot is like an extension of their own team."