Homburger decided to adopt Kira, one of the market artificial intelligence (AI) and machine learning software for contract and legal documents analysis, as part of the firm’s ongoing commitment to digital innovation and the use of legal tech in their client offering.
The firm announced that it will use Kira to identify information and clauses in any legal document in m&a (including due diligence), regulatory, compliance and litigation matters. As the software’s website specifies, users consistently report time savings of 20–40% the first time using the software, and up to 90% or more with experience. Kira reduces time spent on manual reviews of legal documents by automatically highlighting and extracting relevant contract language from contracts in virtually any file format. According to Homburger, this adoption will increase the quality and consistency of any large volume document review.