Leading Canadian law firm Fasken has announced that it has adopted Kira Systems’ legal AI software to increase efficiency in contract review.
Kira Systems’ AI doc review tech will be used for contract analysis at the firm on a major scale. Fasken will deploy Kira to assist on a variety of projects including due diligence and analysis of clients’ contractual obligations.
Commenting on the move, Peter Feldberg, Managing Partner, said: ‘We are continually reviewing how we provide legal services to meet the expectations of our clients. Through proven technology like Kira, we can offer more efficient contract review.’
While, Robert Garmaise, Chief Innovation Officer at Fasken added: ‘Engaging Kira provides a second set of eyes on documents, reducing risk and increasing accuracy despite short timelines. The highest standards of information security are met, from storage to sharing and deleting data.’
Toronto-based (pictured above) Kira Systems said that its AI system now has over 430 built-in models to identify common legal contract provisions and can learn additional models specific to Fasken.
Rob Armbruster, Account Director at Kira Systems, added: ‘We are excited that Fasken will be using our software to augment their already exceptional client service across so many of their practice areas. Their focus on innovating for clients is well known, and we are thrilled they chose to work with Kira.’
In a statement the AI company said: ‘The firms’ adoption of Casetext’s AI-based technology underscores a palpable shift in the legal market as firms quickly trend toward adopting technology to add value for clients.’
Casetext’s contextual legal research technology, CARA AI, automates key legal research, ‘arming lawyers with the highest quality research possible, ultimately allowing firms to spend time on higher-value, billable work and avoid missing key precedents or decisions’ it said.
Commenting on the move, Jeff Rovner, managing director for information at O’Melveny, said: ‘Casetext has already proven to be a valuable addition to O’Melveny’s technology toolkit. The Casetext team expertly managed CARA’s introduction to litigators throughout our US offices. We are especially appreciative of Casetext’s ‘customer-first’ approach to service. Our lawyers have been consistently impressed with the power of Casetext’s AI technology.’
‘Incorporating CARA into our OMM litigation efficiency platform provides our litigators with an even greater toolset to deliver excellent, valuable and economical client services. We subscribed because we believed CARA would help O’Melveny’s world-class litigators continue to provide the best service for our clients supported by cutting-edge legal technology, and our expectations have been met,’ he added.
Casetext Founder and CEO, Jake Heller, concluded: ‘It’s exciting to see Big Law embrace forward-thinking technologies like Casetext CARA AI. In fact, law firms of all sizes are realizing that strategic investments in technology have the power to help mitigate risk while also providing greater cost predictability and control, ultimately resulting in a better outcome for their clients.’
Casetext was recently recognized by CB Insights as one of the most promising artificial intelligence companies of 2018 (the only legal research company to make the list).
( Artificial Lawyer is away on holiday this week, but will be returning Monday 9th April. )