Legal AI company Kira Systems has announced that global law firm Hogan Lovells is now a client and will be rolling out the doc review technology across the firm worldwide, in what is a significant win for the Toronto-based legal tech pioneer.
Kira will be used to support due diligence processes and to offer ‘alternatives to traditional approaches to document review’, said the company.
The client win matters because Hogan Lovells is a huge firm, approaching 3,000 lawyers, and with a global reach. The win comes at a time when other legal AI companies, such as Luminance, are targeting the global and especially US law firm market. Meanwhile, companies such as Eigen Technologies, eBrevia (which has just been bought by Donnelley Financial) and others are also targeting the US law firm market.
At the same time some legal AI companies, for example, Seal Software, have remained above this particular fight, and are focused primarily on working with corporates.
While some law firms use multiple legal AI doc review systems, many don’t and stick with one dominant provider for M&A doc review. And, there are not that many truly global law firms in the market – depending on how you count them. Hence, every big firm win matters and means more market share for whoever is the winner. This is especially the case now that a number of legal AI companies, including Kira, have taken external investment.
Stephen Allen, Hogan Lovells’ Global Head of Legal Operations, said: ‘Making Kira available to all our lawyers is part of our continuing effort to use technology when appropriate to support clients by providing alternative approaches to the traditional due diligence and contract review process.’
Tony Ensinger, Global Director of Sales, Legal Markets, at Kira Systems, added: ‘Hogan Lovells is a global leader in the legal industry. We are thrilled to be working alongside their talented team of attorneys as they provide innovative and exceptional services for their clients.’
Earlier today, rival legal AI company, Luminance announced it had bagged AmLaw 100 firm, Pepper Hamilton.