Kira Systems

By Samuel Gustafson
Background

● Contracts usually take countless man hours to review

● Subject to human error

● Costs businesses a lot of money for lawyers

● Kira Systems offers a technological solution to this

What It Is?

● Tech start-up from Toronto

● Contract review and AI analysis

● Primarily used for due diligence contract review

● Reduces review time by 20 to 90 percent and improves review accuracy

How It Works

● Files are uploaded to the platform

● Program finds clauses, risks, deal points, and more

● Export a report within minutes after uploading

● Flags information uniquely needed by any legal team

What can this be used on?

Can be used on a variety of legal documents

Due diligence

Real estate contracts

Non-disclosure agreements

M&A deal points

Why This Is Important

● Allows businesses to spend their time and money on more important things

● Shows how AI can be used in the most unique of situations

● Gives companies an insight into all of their legal obligations

Cons

● Might threaten long held legal jobs

● U.S consultancy group McKinsey estimates that about 22 percent of a lawyer’s job and

35 percent of a legal clerk’s job can be fully automated

THANK YOU
References

Kira Systems. (2019, February 7). Retrieved from https://www.kirasystems.com/

Ambrogi, B. (2018, September 5). AI Company Kira Systems Gets $50 Million Series A Investment. Retrieved from
https://www.lawsitesblog.com/2018/09/ai-company-kira-systems-gets-50-million-series-investment.html.

Will AI Help or Hurt Legal Professionals? (2019, August 5). Retrieved from https://www.esquiresolutions.com/will-ai-
help-or-hurt-legal-professionals/.
References

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