Fredrikson & Byron (“Fredrikson”) announces the renewal and expansion of their agreement to license the machine learning contract analysis solution, Kira, which the firm has found delivers the speed and accuracy their legal teams require to meet evolving client expectations.
By expanding their use of Kira more broadly across the firm, Fredrikson can optimize their expertise and offer more comprehensive contract reviews, while ensuring that they continue to deliver the highest quality client service. Kira leverages machine learning technology to uncover information in contracts – even when the wording varies from document to document.
The firm has used Kira extensively in their M&A practice, which has helped streamline the document review process and increase the speed of review. In addition to using Kira for due diligence reviews, Fredrikson has found that the technology can also assist with a number of other projects and practice areas, including the efficient review and tracking of thousands of contract and lease documents on a large bankruptcy matter.
According to Sarah Olson, a Shareholder at Fredrikson, “The use of Kira allowed us to more efficiently review and pull key information from a very voluminous set of documents for a time-sensitive issue in a large Chapter 11 case. In addition, throughout the case, Kira’s features assisted with the general organization and identification of key contracts and terms.”
"Amongst US law firms, Fredrikson was an early pioneer in the adoption of machine learning technology. We are thrilled to support them in deriving increasing value from the software and finding new and innovative ways to use the technology for the benefit of their clients,” said Dan Von Weihe, VP Customer Success & Sales at Kira Systems.
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