Following a thorough evaluation of the available tools and successful pilots, we have adopted Kira (www.kirasystems.com), the market leading artificial intelligence (AI) and machine learning software for contract and legal documents analysis. The adoption of Kira is part of our firm's ongoing commitment to digital innovation and the use of legal tech in our client offering.
Kira can be used to identify information and clauses in any legal document in M&A (including due diligence), regulatory, compliance and litigation matters. We expect that the use of Kira will reduce the time spent on manual reviews of legal documents significantly and also allow the review of a larger amount of documents more efficiently. It also increases the quality and consistency of any large volume document review.
David Oser, partner in the Corporate | M&A and Capital Markets teams, said: "Kira is an important addition to our existing service platform. We have been leveraging e-discovery tools in our investigation practice for quite a while, and we are confident that we will be similarly able to use Kira in a way that brings significant value to our client."
Andreas Müller, partner in the Corporate | M&A and Capital Markets teams and head of the Kira project team, adds: "Over the past months, our lawyers have trained Kira also on the relevant contract clauses in German and French. This allows us to conduct contract analyses in the most common languages in our practices."