Latch is a next-generation contracting assistant powered by GPT-4, an AI language model created by OpenAI. It is designed to help legal teams streamline their contract negotiation process by reducing time, effort, and costs. Latch offers various features, including generating suggestions on updating contract language, generating automatic redlines, summarizing agreements, and creating checklists for compliance. Users can access Latch directly within Microsoft Word as an add-in. The tool ensures data privacy by utilizing Microsoft"s Azure OpenAI Service, where data processed is not used for model training. Latch does not store first and third-party contract information, except when provided for maintaining playbooks. Users can gain partial access to Latch within a day of signing an agreement, while implementing the Checklist and Clause features requires a short process.