UK News
Kira Systems announces the formalization of its long-standing relationship with city law firm Macfarlanes, and its growing use of the technology by their commercial, real estate and finance practitioners.
Through their adoption of Kira, which uses AI-enabled technology to automatically uncover information in contracts, Macfarlanes can ensure that it continues to deliver the highest level of client service, enhanced by the use of innovative technology. The commercial team at the firm has used the tool to conduct faster, more comprehensive and accurate commercial document reviews. Using Kira’s clause extraction and comparison capabilities, the team has been able to conduct sample testing for larger sets of agreements and a more detailed review of high-value contracts in much less time.
On one such matter, Macfarlanes was able to complete a review project with Kira on 1500+ commercial documents in just two days and provide their client with a detailed risk assessment. Without the technology, this review would have taken significantly longer.
“Macfarlanes’ focus is on highly specialized work, and our need to conduct very tailored document reviews means we derive immense benefit from Kira’s Quick Study feature that allows us to train the system ourselves to find any information we’re looking for. It was one of the main determining factors during our evaluation of competing products,” said Christopher Tart-Roberts, Head of Knowledge, Innovation and Legal Technology at Macfarlanes. “We approach innovation the same way we approach all of our work, by focusing our attention on how we can deliver the best client service.”
Macfarlanes continues to explore new practice areas where the technology can amplify the firm’s expertise, including in their real estate, corporate, finance and derivatives & trading groups. In each of these practice areas, the firm used Quick Study to teach Kira to find client-specific language, enhancing their ability to offer accurate reviews that meet detailed and bespoke client needs.
“We are thrilled to see how Macfarlanes has been able to pass on the benefits of technology directly to their clients in so many of their practice areas. The firm’s commitment to technological transformation has resulted in tangible, measurable benefits for their clients,” said Daniel Von Weihe, Vice President of Sales & Customer Success at Kira Systems.
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