BCLP is using Kira’s machine learning software to identify, extract and analyzes text in contracts and other documents. It automatically highlights important provisions and organizes the data for analysis.
AI due diligence done
This firm says this will enable significant time savings and reduce the risk of errors and omissions, as well as free up legal teams to focus on providing high-value analysis and advice. BCLP already has already embedded the software into its corporate and real estate workflows across its Manchester and St Louis legal service delivery hubs. It now will begin extending the deployment across all relevant parts of the business, wherever the firms believes Kira can provide value for their clients. The move is being driven by the firm’s new global Innovation group, led by chief innovation officer Katie DeBord. Ms DeBord said, “As we standardize workflows across BCLP globally, AI due diligence is now at a point where our ability to leverage the technology can deliver substantial benefits for our clients worldwide. Therefore, we have carefully evaluated the market and believe Kira’s platform provides the best solution for our clients. This follows recent enhancements made to its lease abstraction capabilities. Making this commitment will enable us to develop our processes to make best use of the platform and deliver a better solution for clients.”
Co-Founder and ceo of Kira Systems Noah Waisberg added, “We are delighted to be working with BCLP globally. The firm’s strong track record in both real estate – in which it is considered among the leading law firms globally – and corporate – where it regularly ranks as among the most active advisers in the US market – makes its endorsement of Kira a major win for our platform.”