Legal document review has been one of the most time-consuming tasks in the financial world. It also hampers the organization from a financial point of view. Its not effective for a teams of professionals spending thousands of hours reading contracts line by line, searching for important clauses, and making sure everything checks out. It was exhausting, expensive, and prone to human error.

At JPMorgan Chase, this challenge became the starting point for a bold new solution. Instead of throwing more people at the problem, they decided to take a different route. They built COiN - short for Contract Intelligence - a platform that uses artificial intelligence to do the heavy lifting.

The Technology Behind COiN

What makes COiN special is not just the fact that it uses AI, but also in the same way how it combines different technologies to tackle real-world problems.

• Natural Language Processing (NLP): Legal documents are filled with complex language that is often difficult to interpret. COiN uses NLP to read and understand these documents almost the way a human would, picking out important details with precision.

• Machine Learning: COiN gets better over time. It learns from the documents it reviews, identifying patterns and improving its ability to spot critical information.

• Image Recognition: Not every document is neatly typed. Some are scanned, some are handwritten. COiN uses image recognition to find the important sections even in less-than-perfect formats.

• Private Cloud Infrastructure: Handling thousands of sensitive legal documents requires serious computing power and security. A private cloud setup gave COiN the muscle it needed without putting data at risk.

Solving Problems That Mattered

The team behind COiN was focused on more than just flashy technology. They wanted results that made a difference.

• Automated Data Extraction: Instead of requiring human reviewers to manually dig through pages of legal text, COiN pulls out key clauses and metadata automatically.

• Clause Categorization: With over 150 types of contractual clauses classified, COiN does not just extract information. It organizes it, making legal reviews faster and more consistent.

• Scalability: Thanks to the cloud, COiN can handle thousands of documents at once, something that would have been impossible before.

• Error Reduction: Even the best human reviewers can miss things after hours of reading contracts. Machine learning models helped COiN reduce those mistakes and deliver cleaner results.

• Smooth Integration: COiN did not require a complete overhaul of JPMorgan’s systems. It was designed to fit right into their existing enterprise setup without causing disruption.

What Changed After COiN

The impact of COiN was immediate and impressive.

• Time Savings: Reviewing 12,000 commercial credit agreements used to take about 360,000 hours every year. COiN reduced that work to seconds.

• Cost Savings: In its first year, COiN helped JPMorgan Chase save around 150 million dollars. This came from both better fraud detection and huge improvements in operational efficiency.

• Improved Accuracy: In tests, COiN often outperformed human reviewers when it came to spotting critical clauses and important risks.

• Room to Grow: As JPMorgan expands its operations around the world, COiN’s ability to scale means the company can handle even bigger volumes of documents without slowing down.

• Better Compliance: With systematic checks against regulatory standards, COiN helped reduce legal risks and strengthened audit outcomes.

• Beyond Contracts: Seeing how effective it was with contracts, JPMorgan began using COiN for invoice screening too, catching fraudulent activities earlier and preventing costly mistakes.

A New Way Forward

COiN is more than just an AI project. It is a glimpse into the future of financial operations. Instead of replacing people, it frees them from repetitive, low-value tasks and lets them focus on higher-level work where human judgment matters most.

JPMorgan Chase showed that when technology is applied thoughtfully, it does not just make things faster or cheaper. It makes them better.

At CloudPro.ai, we believe that the real promise of AI is not about machines taking over. It is about working smarter, solving old problems in new ways, and opening the door to innovation that was not possible before. COiN’s story proves that with the right tools and the right mindset, even the most complex challenges can be turned into opportunities.

References

Legal Document Automation with AI: A Guide for Smart Law Firms

Meet COIN: JPMorgan’s Efficiency Wizard

AI for Legal Documents: How Technology is Transforming Legal Workflows