Mumbai: January 31, 2017: India’s leading full service law firm, Cyril Amarchand Mangaldas, has signed an agreement with Canada based technology company Kira Systems, a leading machine learning software provider, earlier today.
Cyril Amarchand Mangaldas will be India’s first law firm to deploy such a technology, hence enhancing its delivery model to provide certain legal services more efficiently, quickly and accurately to its clients.
Kira is software that uses artificial intelligence to identify, analyse and extract clauses and other information from contracts and other types of legal documents. It includes integrated machine learning models for a range of transaction requirements, across the firm’s practice areas. The tool can also identify different clauses across a large volume of legal contracts with a high degree of accuracy.
Although a number of technologies can identify and tag terms within legal documents, Kira’s inclusion of advanced machine learning features is considered to be a differentiator for the firm, and places it as a innovation leader in the market.
“Our clients expect us to be at the cutting edge of the practice of law, and of the business of law. We recognise that the business challenges of our clients come first, and that we need a suite of different tools and advanced skills to address these,” said Cyril Shroff, managing partner at Cyril Amarchand Mangaldas. “This partnership with Kira Systems is one of many interconnected initiatives that the firm has been working on since the last year, and we are excited to be bringing our clients these technologies in a proactive manner”, concludes Mr. Shroff.
“Cyril Amarchand Mangaldas is an iconic legal brand in India, and we are excited to be working with them on this initiative. They are our first law firm client in India” said Noah Waisberg, co-founder and CEO of Kira Systems.
Noah further added “The firm has outlined a clear transformation and innovation strategy to us that includes not only the adoption of artificial intelligence, but the productisation of their legal knowledge and the introduction of unique skills not yet seen in the Indian market. We’re honoured to be part of the firm’s exciting journey.”
Kira Systems’s clientele amongst global law firm include the likes of DLA Piper, Freshfields, Clifford Chance, WSGR, King & Wood Mallesons, and Torys, to name a few.
UK based Janders Dean, who have been advising Cyril Amarchand Mangaldas, on its various technological initiatives have played a key role in bringing on this change. Janders Dean are global thought leaders in law firm and corporate legal management and maintains industry leadership in future thinking and innovation.
The global legal industry has been witnessing immense growth and tremendous transformation on the technological front, with the industry moving to a digitised environment with well rounded virtual capability in the practice of law. Cyril Amarchand Mangaldas aspire to be leaders of this technological revolution in the India legal market.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values of the erstwhile 97-year old Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. Tracing its professional lineage to 1917, the Firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 625 lawyers, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm, Cyril Amarchand Mangaldas, most recently on January 20, 2017, was the proud recipient of the “Leadership Excellence Award, 2017 for Pinnacle of Success”, having also been awarded, amongst others, in 2016, the prestigious “India Deal Firm of the Year, 2016” by ALB SE Asia Law Awards, 2016, having won the same award in 2015 too. It was also voted as the ‘Employer of Choice for 2016’ from India, by the Asian Legal Business, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. had won in the past.
About Kira Systems
Kira Systems helps enterprises uncover relevant information in unstructured contracts and related documents. Its award-winning software excels at searching and analysing contract text. Kira offers machine learning models covering due diligence, general commercial, corporate organisation, real estate and compliance. Its customers include some of the world's largest corporations and professional services firms, have trusted Kira on hundreds of billions of dollars of M&A transactions. They also deploy Kira for knowledge management, contract search, analytics, and other use cases where visibility into contract provisions is critical.