A new generative artificial intelligence tool from Ncontracts can assist in summarizing lengthy agreements with fintech partners and identifying important clauses.

The San Francisco-based electronic signature company's chief executive Allan Thygesen announced Tuesday that roughly 400 employees across the company were being let go as part of restructuring for the 2025 fiscal year.

The Detroit-based company named Andreesen Horowitz partner and fintech entrepreneur Alex Rampell as an independent director, following the launch of artificial intelligence initiatives late last year.

The former Airbnb executive Jonathan Mildenhall steps into a newly created role, overseeing communications for all business lines at the Detroit-based company.

The industry is embracing growth by hiring and implementing artificial intelligence tools in the face of significant headwinds.

Leaders at the helms of organizations like Georgia United Credit Union, BayPort Credit Union, Blend Labs and more are adapting products such as "soft check" credit scoring, artificial intelligence-powered bots to streamline application reviewal and more.