Pan-African law firm, Bowmans, has chosen Kira Systems for AI-driven review work in M&A, private equity and compliance matters. Meanwhile, in the US, Minnesota-based law firm Fredrikson & Byron, has also renewed its ongoing relationship with the Canadian legal AI pioneer.
The move by Bowmans is a sign of its continued tech leadership in Africa. Earlier last year the African firm launched its own cryptocurrency, BowMoney, which is based on the Ethereum blockchain.
The firm, which has offices across Africa and over 170 partners, is primarily using the BowMoney digital tokens as a staff reward and engagement system.
Elsewhere in Africa, leading South African law firm, Webber Wentzel, announced some months ago that it has chosen legal AI company Luminance to provide doc review services for M&A transactions – proof that the demand for this technology is now truly global and seeing uptake across all markets.
Alan Keep, Managing Partner, Bowmans said: ‘Our clients have responded very positively to this offering and have been eager to capitalise on the benefits. This really is a differentiator when it comes to law firm services.’
Cathy Truter, who is leading the project implementation at Bowmans, added: ‘Our lawyers, who have been using and training Kira since February, are impressed by the power of the technology and are excited about how it enriches our client-centric service offering.’
Chloe Doyle, account director at Kira Systems, added: ‘Bowmans is known for its focus on providing high-class legal services to its clients. We are delighted to be working with them.’
Meanwhile, in the US, Fredrikson & Byron is renewing and expanding their agreement to license Kira. The firm said it had found that the technology can also assist with a number of other projects and practice areas beyond M&A, including the efficient review and tracking of thousands of contract and lease documents on a large bankruptcy matter.
Sarah Olson, a Shareholder at Fredrikson, concluded: ‘The use of Kira allowed us to more efficiently review and pull key information from a very voluminous set of documents for a time-sensitive issue in a large Chapter 11 case. In addition, throughout the case, Kira’s features assisted with the general organisation and identification of key contracts and terms.’