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AI Sentiment Among Legal, Procurement Workforce Outpaces Organizational Readiness in Icertis and World Commerce & Contracting Study

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2 years ago

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Cost Savings, Risk Mitigation, and Compliance Benefits Offset Barriers to AI Adoption in Contracting

BELLEVUE, Wash., Feb. 26, 2024 /PRNewswire/ — Icertis, the global leader in AI-powered contract intelligence, and World Commerce & Contracting, the global leader in independent research in commercial and contract management (CCM), have published a new report titled AI in Contracting: From Untapped Revolution to Emerging Evolution.

Based on input from more than 500 businesses globally, the study identifies a growing divide between personal and organizational perceptions around AI, contrasting barriers to adoption with priorities for AI-driven transformation that span risk, compliance, and cost savings. Respondents were primarily legal and procurement professionals across a multitude of industries who delivered insights into AI trends over a six-month timeframe, shaping a unique narrative on how the age of AI is continuing to revolutionize contract management. 

“As AI rapidly evolves, this study from World Commerce & Contracting and Icertis points to its power in redefining commercial practices and creating value as a strategic asset capable of enabling both innovation and efficiency,” said Tim Cummins, President of World Commerce & Contracting. “AI can analyze vast amounts of contract data with speed and accuracy, uncovering patterns and anomalies that might go unnoticed by human oversight. This supports real-time improvements in contracting cycle times, more vigilant compliance monitoring, and proactive cost management – all of which are priorities in today’s business environment.” 

Key findings from the report include:

Personal enthusiasm for AI is outpacing organizational readiness. Nearly 80 percent of legal and procurement professionals are now personally enthusiastic about AI, more than double the number who expressed positive sentiment in June 2023. In comparison, less than 40 percent of respondents feel their organization is enthusiastic about AI – only a 10 percent increase within the same timeframe. This indicates a growing need for decision-makers to accelerate AI adoption in an effort to match their workforce’s appetite to embrace the technology.  Security and reliability remain primary AI concerns. The top barriers to AI implementation include apprehension around security and privacy (57 percent), data output quality (46 percent), and general lack of trust (46 percent). These factors are likely the source of more cautious AI adoption practices and any lingering uncertainty among business leaders as they seek to protect their company’s data.AI is enabling strategic impact and transforming core business functions through contracts. Legal and procurement professionals believe AI will help analyze risk & compliance in contracts (94 percent), assist in contract negotiations (88 percent), and generate contracts (87 percent). Additionally, 84 percent agree that AI will free up time for more strategic work to help evolve their functions into drivers of innovation and value across the enterprise.AI ROI is being measured in tangible outcomes. Businesses are assessing the impact of AI in contracting by evaluating cost savings, considering enhanced contract data analytics and reporting, and examining compliance rates with contractual obligations and regulations as the top three performance indicators. Analytics and insights, and risk and compliance support are also among the most desired generative AI capabilities in contracting as legal and procurement leaders seek to move beyond the AI hype cycle and enable measurable value.   

“Many companies spent 2023 talking about AI, but now leaders are under pressure to take action and show tangible returns from AI investments. Contracts are the single source of truth for business relationships, making their data one of the most valuable untapped assets for AI and a prime opportunity for enterprises to realize immediate bottom-line impact by integrating AI into contract-driven operations,” said Bernadette Bulacan, Chief Evangelist, Icertis. “Icertis offers legal and procurement teams secure platforms and proven AI models that deliver reliable insights they can trust to inform business decisions. Innovations like Icertis Copilots also enable enterprises to leverage AI as a strategic partner rather than just an automation tool, ultimately supporting the cost savings and risk mitigation these teams seek in today’s macro environment.”

Download the full report to learn more:
AI in Contracting: From Untapped Revolution to Emerging Evolution 

About Icertis

Icertis is the global leader in AI-powered contract intelligence. The Icertis platform revolutionizes contract management, equipping customers with powerful insights and automation to grow revenue, control costs, mitigate risk, and ensure compliance – the pillars of business success. Today, 30% of the Fortune 100 trust Icertis to realize the full intent of millions of commercial agreements in 90+ countries.

Media Contact

Michelle Rodriguez
Senior Manager, Corporate Communications
corpcomm@icertis.com

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SOURCE Icertis

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Yon Raz-Fridman Joins Intrinsic Labs as Co-Founder and Partner

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3 hours ago

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April 30, 2026

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Most AI companies are selling software. Intrinsic is deploying AI workers into the core operations of mid-market companies – and just brought in a serial tech entrepreneur to help the firm scale across the Heartland.

COLUMBUS, Ohio, April 30, 2026 /PRNewswire/ — Intrinsic Labs today announced that Yon Raz-Fridman has joined the firm as a Co-Founder and Partner.

Raz-Fridman has spent nearly two decades building across software, hardware, and platform businesses. Early in his career, he served as Chief of Staff to the President of Keter Group, a $1 billion-plus global consumer products manufacturer. He went on to co-found Kano, the award-winning educational computing company, and later founded Supersocial, the immersive gaming studio acquired by Super League Enterprises in 2025. He is a member of the World Economic Forum’s Technology Convergence Council.

He joins Intrinsic at a moment when mid-market companies are moving from AI experimentation to deployment. Intrinsic works with operators in logistics, construction, insurance, manufacturing, and industrial markets to deploy AI workers into the workflows that run the business – increasing throughput, reducing manual work, and expanding capacity without adding headcount.

The firm has built its reputation on practical deployments tied to real operating metrics. In one engagement with a national real estate brokerage, Intrinsic’s AI Accounting Agents reached 97% invoice coding accuracy, automated 90% of the AP workflow, and fully removed FTEs from the review flow.

“Yon understands what it takes to build and scale in the real world,” said Jon Slemp, Managing Partner at Intrinsic Labs. “Our clients aren’t buying flashy agents, they’re buying outcomes and reliable labor. They need agentic systems that take work off their teams, perform reliably, and produce measurable gains in throughput and capacity. That’s what we build.”

As Co-Founder, Raz-Fridman will oversee Intrinsic’s expansion – designing the channel relationships, institutional partnerships, and market positioning that take the firm from a proven Ohio model to the defining AI workforce platform for America’s industrial middle market.

“The companies that win over the next decade will be the ones that figure out how to staff AI into their operations and manage it like a workforce. Intrinsic is doing that work now, inside real businesses, tied to real outputs. The Heartland is exactly the right place to prove this model, and Intrinsic is exactly the right team to do it.” — Yon Raz-Fridman

About Intrinsic Labs LLC
Intrinsic Labs helps mid-market companies deploy AI workers into the workflows that run their business. The firm focuses on logistics, construction, insurance, manufacturing, and industrial markets, where manual work, fragmented systems, and labor constraints create clear opportunities for leverage. Intrinsic works with clients to put AI workers into production, tie them to operating KPIs, and help teams scale output without scaling headcount. https://www.intrinsic-labs.ai/  

About Team Yon LLC
Team Yon LLC is a management company founded by Yon Raz-Fridman that incubates new ventures, provides executive leadership, and makes strategic investments at the intersection of emerging technology and human advancement. Through Team Yon LLC, Raz-Fridman partners with founders and operators across healthcare, AI, and frontier technology – including his role as co-founder and Partner at Intrinsic Labs. https://teamyon.org

Media Contact:hello@intrinsic-labs.ai

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SOURCE Team Yon LLC

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Wipfli to complete CompliancePoint transaction and add associates, expanding capabilities

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3 hours ago

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April 30, 2026

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MILWAUKEE, April 30, 2026 /PRNewswire/ — Wipfli, a top 25 national advisory and accounting firm, announced today it has entered into an agreement with CompliancePoint Inc., a provider of risk management services focused on information security, data privacy and regulatory compliance. 2 partners and 52 associates will join the firm as a result of the transaction.

Based in Duluth, Georgia, CompliancePoint brings specialization across cybersecurity, privacy and compliance, serving clients across a wide variety of industries. The addition strengthens Wipfli’s risk management offerings and expands its ability to help organizations navigate regulatory scrutiny, evolving cybersecurity threats and complex data protection requirements.

“Organizations today are under more pressure than ever to protect sensitive information and operate responsibly in an evolving regulatory environment,” said Kurt Gresens, CEO at Wipfli Advisory, LLC. “The team at CompliancePoint brings specialized experience and a strong, people-first approach that enhances how we support clients navigating today’s risk landscape.”

CompliancePoint has built its reputation on helping organizations manage risk across the full data lifecycle, with a holistic approach that recognizes how privacy, security and compliance intersect. The combined professional teams from CompliancePoint and Wipfli will deliver expanded, integrated advisory solutions designed to help clients proactively manage risk while supporting long-term growth and operational resilience.

“Wipfli shares our commitment to practical, client-focused solutions and long-term relationships,” said Greg Sparrow, CompliancePoint president. “Together, we’re expanding the resources available to our clients while continuing to deliver the specialized experience and trusted relationships they rely on.”

The addition of the CompliancePoint team also supports Wipfli’s continued investment in talent and innovation. CompliancePoint associates will join a national firm that emphasizes collaboration, professional development and meaningful client impact, while maintaining the specialized focus that has defined their work.

The transaction is expected to become effective on May 1st, 2026

About Wipfli

Wipfli is a leading national advisory and accounting firm with nearly 100 years of experience serving ambitious middle-market organizations. We understand our clients’ unique challenges and help them succeed on their terms through assurance, tax, advisory, outsourcing and technology services. With 3,000+ associates and global alliances, we combine national capabilities with local relationships. Wipfli operates under an alternative practice structure: Wipfli LLP, a licensed CPA firm, provides attest services, while Wipfli Advisory LLC, a non-CPA firm, delivers business advisory and non-attest services. Learn more at wipfli.com or contact Alicia O’Connell at alicia.oconnell@wipfli.com.

Media Contact

Alicia O’Connell
Wipfli
alicia.oconnell@wipfli.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wipfli-to-complete-compliancepoint-transaction-and-add-associates-expanding-capabilities-302756208.html

SOURCE Wipfli

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Ginkgo Bioworks Announces Date of First Quarter 2026 Results Presentation

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3 hours ago

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April 30, 2026

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Presentation and Q&A session scheduled for post-market on Thursday, May 7, 2026

BOSTON, April 30, 2026 /PRNewswire/ — Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”) today announced that it plans to host a presentation and Q&A session reviewing business performance for the first quarter ended March 31, 2026, on Thursday, May 7, 2026, beginning at 4:30 p.m. ET.

The presentation details and webcast link will be available on Ginkgo’s investor relations website at https://investors.ginkgobioworks.com, and a replay will be made available.

To ask a question ahead of the presentation, please submit them to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to investors@ginkgobioworks.com.

About Ginkgo Bioworks
Ginkgo Bioworks builds the tools that make biology easier to engineer for everyone. The company offers autonomous laboratories that replace manual laboratory work with robotics in the lab, greatly improving the productivity of scientists. Ginkgo’s in-house autonomous lab is also available as a “cloud lab” through our Datapoints and Solutions contract research services. For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:

investors@ginkgobioworks.com 

MEDIA CONTACT:

press@ginkgobioworks.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ginkgo-bioworks-announces-date-of-first-quarter-2026-results-presentation-302757632.html

SOURCE Ginkgo Bioworks

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