South KoreaConstruction and engineering2024 – ongoingPOSCO E&C
Azure OpenAI assistant for construction contract review
POSCO E&C reported 20% shorter contract reviews after introducing an AI assistant
Problem
Construction contract reviews involved lengthy documents with technical requirements. Specialists had limited time to find relevant clauses and understand client requirements.
Approach
POSCO E&C built an Azure OpenAI assistant using retrieval-augmented generation. Staff asked questions in ordinary language to retrieve clauses and identify potential problems. Company-wide use began in September 2024, with people and AI cross-checking reviews.
Results
Takeaway
The reported improvement covered a review cycle that previously took about 2 weeks. Human review remained part of the process.
Categories
- Size
- Large enterprise
- Industry
- Construction and engineering
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Generative AI
- Adoption
- Off-the-shelf tool or platform
- Evidence
- Company's own claim
Sources
Source summaries
Newspim reported a POSCO E&C manager's presentation on an AI contract-review system. The company said reviews took 20% less time following company-wide introduction in September 2024.
Full details are in the original sources.
