Need validation on my chrome extension idea

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Basically, I've been working on a Chrome extension that uses AI to break down those dense, impossible-to-read Privacy Policies and Terms of Service into simple labels like if its Good, Concerning, or Bad. I wanted a gut check on the trust factor: Does the idea of an AI processing these docs sound useful to you, or does the privacy risk of sending that text to an API cancel out the benefit? I’d love to know if you'd actually use something like this, and what would make you feel comfortable trusting it like open-sourcing the code. Any thoughts? Would you actually use something like this? is there any competition that may immediately wipe it out?