The software works by using artificial intelligence to search and analyse text in contracts and is intended to improve the ‘speed, efficiency and quality’ of the law firm’s processes. The firm believes its use will reduce the time spent on due diligence work and potentially expand the qualitative analysis by, for example, reviewing a higher number of documents.

Easily ‘trainable’

Clifford Chance chose the software because it works 'out of the box' with little set up time and can be easily 'trained' by the firm’s lawyers to learn from the firm’s specialist knowledge, enabling it to deliver more effectively against the specific requirements of clients.

Pressure to reduce legal spend

Bas Boris Visser, global head of innovation and business change at Clifford Chance, commented: ‘Our clients are under substantial pressure to reduce legal spend. At the same time, they need more support to manage the increasing risks and complex issues that their companies are facing,’ adding that adopting Kira would help the firm to support its clients’ demand for greater value.

The need to adapt

Paul Greenwood, CIO at Clifford Chance, commented: ‘The legal industry must adapt if it is to deliver what clients value most – whether that is about speed, accuracy or risk management. There are increasing numbers of intelligent tools on the market that can help law firms service clients and we want to be at the forefront of identifying and deploying those systems that will make a real difference to our clients.’