Why use AI and the Drooms AI Assistant?
Data rooms play a major role in managing sensitive information during due diligence for mergers and acquisitions (M&A), and real estate transactions. However, as document volumes grow (+20% in 2023-2024), manual reviews become increasingly time-consuming and prone to errors. Advanced AI Technology using Large Language Models (LLMs) enhance information retrieval accuracy and can help to streamline the due diligence process, reducing manual effort by up to 50%. The Drooms AI Assistant helps to:
- Overcome limited search capabilities: Traditional search engines rely on exact keywords, missing synonyms (e.g., “lease” vs. “rent”). The AI Assistant utilises semantic search for better results.
- Manage growing data volumes: AI streamlines the analysis of large, multi-format, multilingual datasets.
- Improve comprehension of complex documents: Legal and financial documents contain dense jargon. The AI Assistant simplifies terms and clauses for non-experts.
- Overcome language barriers: Users may struggle with foreign-language documents. The AI Assistant enables cross-language querying and responses.
- Minimise security and compliance risks: Unlike general AI tools, the Drooms AI Assistant meets strict data protection requirements and ensures compliance with regulatory requirements within a secure data room environment.
- It enables users to interact with one or multiple documents (up to 20) through natural language queries.
Who benefits from using the Drooms AI Assistant?
- Real Estate Transaction Manager: Needs quick access to property documents and contract risks. The AI Assistant extracts relevant details, reducing review time.
- M&A Analyst: Analyses financial statements, contracts, and reports. The AI Assistant automates search and extracts financial metrics.
- Legal Advisor: Reviews contracts for obligations and risks. The AI Assistant pinpoints clauses and provides legal insights.
- Asset Manager: Manages financial and real estate portfolios. The AI Assistant ensures compliance and retrieves key data.
- Compliance Officer: Verifies adherence to regulations. The AI Assistant flags non-compliant terms across documents.
- Financial Auditor: Reviews financial records for accuracy. The AI Assistant detects discrepancies and highlights anomalies.
Which industries does it serve?
- Finance & Investment: M&A, private equity, venture capital
- Legal Services: Contract analysis, litigation support
- Real Estate: Property transactions, regulatory compliance
- Healthcare: M&A, regulatory compliance
- Energy & Utilities: Environmental and regulatory documentation
What does the AI Assistant do?
The Drooms AI Assistant is a chatbot specially trained by Drooms for retrieving all kind of information documents present in a data room may contain. It allows to enter any kind of query about documents, answers and summarises them, highlights risks, explains complex terms while overcoming language barriers by responding in the user’s language, regardless of the document’s language.
How many documents can I include in a chat with the AI Assistant at once?
Up to 20.
Can I add new documents to an existing chat?
No, a new chat must be created.
How does the AI ensure accuracy?
All responses are sourced from selected documents. To ensure transparency and mitigate hallucinations, the AI Assistant highlights referenced text snippets within documents and provides direct links to sources for validation. Chats are organised in a structured history for easy access.
Yes, responses are linked to source snippets. To ensure transparency and mitigate hallucinations, the AI Assistant highlights referenced text snippets within documents and provides direct links to sources for validation. Chats are organised in a structured history for easy access.
What languages are supported?
Users can enter queries in any language.
Can I translate full documents?
No, only summaries and insights are provided.
Is my data secure?
Yes, integrated within the secure Drooms platform, all processing remains within the Drooms secure environment and is fully compliant with EU regulations
No, the AI Assistant does not rely on any external third-party providers, no data leaves the platform, and unlike public AI platforms (e.g., ChatGPT), customer data is not used for AI training.
What model does the AI use?
OpenChat, a derivative of Meta’s LLaMA model, fine-tuned for secure usage.
Will it remain free?
Currently, yes, but a user-based license model may be introduced.
Will it support folder-wide document selection?
Not yet, but future updates may enable this.
How does the Drooms AI Assistant revolutionise due diligence?
By enhancing efficiency, accuracy, and security. As the platform evolves, continuous improvements will further empower professionals in real estate, M&A, and other industries.