The legal profession is not far away from being exposed to the disruptive potential of AI. In India, a leading full service law firm, Cyril Amarchand Mangaldas has plans to deploy AI technology. This will help the firm to enhance its delivery model, in an attempt to provide certain legal services more efficiently, swiftly, and more accurately to its clients.
The firm recently signed an agreement with a leading Canada-based machine learning software provider, called Kira Systems. Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas, remarks “The firm has been working on several interconnected initiatives since last year. The collaboration with Kira will help us bring these technologies for our clients in a proactive manner.”
Sign up for your weekly dose of what's up in emerging technology.
Kira integrates machine learning models for a wide range of transaction requirements, across the firm’s practice areas. The software utilizes AI in identifying, analyzing, and extracting clauses and other information from contracts and other types of documents. Moreover, the tool can identify different clauses across a large volume of legal contracts, with utmost precision.
The use of Kira’s advanced machine learning features places the law firm as an innovation leader in the market. “We are excited to work with Cyril Amarchand Mangaldas on this project. They represent our first law firm client in India,” extols Noah Waisberg, Co-founder and CEO, Kira Systems.
The world is witnessing Law firms opening significantly to AI technology, reflecting on the fact that there’s a host of software available in the market. DLA piper, Freshfields, Clifford Chance, WSGR, King & Wood Mallesons are some of the leading global law firms, serving as clients to Kira. Noah adds, “The firm has provided us with a clear transformation and innovation strategy. This includes productization of their legal knowledge and the introduction of unique skills in the Indian market, besides the adoption of Artificial Intelligence.”
UK-based, Janders Dean was instrumental in bringing this change. The firm has been advising Cyril Amarchand Mangaldas on its various technological initiatives. Significant transformations have been noticed within the global legal industry, which is moving onto use of digitization technologies. “Business challenges of our clients is our primary focus, and we need a suite of different tools and advanced skills to address those,” concludes Cyril.