This means Cognia Law can combine Kira’s expertise in machine learning technology with its specialist knowledge of contract review to deliver faster and even more accurate contract review services to its clients.
Corporations will now be able to take advantage of technology enabled contract review, even when it does not make sense to be direct users of the technology themselves.
Cognia Law CEO Janet Taylor-Hall said the partnership allows it to leverage Kira’s advanced machine learning technology to fast-track contract analysis on our contract review projects.
“By using AI to help with accurate and cost efficient processing of large volumes of documents and contracts, Kira supports us in being able to deliver on our people focus and employ a higher calibre of skilled individuals, and in turn, to deliver more value added legal services to our clients,” she said.
Cognia Law has been working closely with Kira Systems over the last three months to understand how Cognia Law’s services to its clients, including CMS migration, post‑merger integration and regulatory review, can be spruced up using machine learning technology.
Continued collaboration between the businesses reinforces Cognia Law’s strategy of continuous improvement in the delivery of legal services and gives rise to new technology enabled services.
The users of Kira at Cognia Law have found that Kira substantially speeds up their contract review as it is capable of identifying concepts even if they vary significantly or don’t contain keywords, as the model takes into account thousands of variables.
Cognia Law users also find the technology easy to use, with built in workflow and reporting capabilities, which align with Cognia Law’s project management methodology.
Kira Systems CEO Noah Waisberg believed that in many cases the needs of corporates are best served directly through a service provider, but that shouldn’t mean they don’t get to have the benefits of AI too.
Kira is software searches and analyses contract data. Kira offers pre-built machine learning models covering due diligence, general commercial, corporate organization, real estate, compliance and more.
Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. Kira has been trusted by some of the world’s largest corporations on hundreds of billions of dollars of transactions and have been deployed on use cases where visibility into contract provisions is critical.