Mumbai: January 31, 2017: India’s leading full service law firm, Cyril Amarchand Mangaldas, has signed an agreement with Canada based technology company Kira Systems, a leading machine learning software provider, earlier today.
Cyril Amarchand Mangaldas will be India’s first law firm to deploy such a technology, hence enhancing its delivery model to provide certain legal services more efficiently, quickly and accurately to its clients.
Kira’s software uses artificial intelligence to identify, analyse and extract clauses and other information from contracts and other types of legal documents. It includes integrated machine learning models for a range of transaction requirements, across the firm’s practice areas. The tool can also identify different clauses across a large volume of legal contracts with a high degree of accuracy.
Although a number of technologies can identify and tag terms within legal documents, Kira’s inclusion of advanced machine learning features is considered to be a differentiator for the firm, and places it as a leader in the market.
“Our clients expect us to be at the cutting edge of the practice of law, and of the business of law. We recognise that the business challenges of our clients come first, and that we need a suite of different tools and advanced skills to address these,” said Cyril Shroff, managing partner at Cyril Amarchand Mangaldas. “This partnership with Kira Systems is one of many interconnected initiatives that the firm has been working on since the last year, and we are excited to be bringing our clients these technologies in a proactive manner”, concludes Mr. Shroff.
“Cyril Amarchand Mangaldas is undoubtedly the most recognised law firm and an iconic legal brand in India, and we are excited to be working with them on this initiative. They ara our first law firm client in Asia” said Noah Waisberg, co-founder and CEO of Kira Systems.
Noah further added “The firm has outlined a clear transformation and innovation strategy to us that includes not only the adoption of artificial intelligence, but the productisation of their legal knowledge and the introduction of unique skills not yet seen in the Indian market. We’re honoured to be part of the firm’s exciting journey.”
Kira’s clientele amongst global law firm include the likes of DLA Piper, Freshfields, Clifford Chance, WSGR, King & Wood Mallesons, Tory’s, to name a few.
UK based Janders Dean, who have been advising Cyril Amarchand Mangaldas, on its various technological initiatives have played a key role in bringing on this change. Janders Dean are global thought leaders in law firm and corporate legal management and maintain industry leadership in future thinking and innovation
The global legal industry has been witnessing immense growth and tremendous transformation on the technological front, with the industry moving to a digitised environment with well rounded virtual capability in the practice of law. Cyril Amarchand Mangaldas aspire to be leaders of this technological revolution in the India legal market.