DLA Piper to use artificial intelligence for M&A document review
DLA Piper will use artificial intelligence technology by Kira Systems for due-diligence document review in mergers and acquisitions.
Kira’s machine-learning software searches texts in contracts, then creates a summary and analysis, according to a press release announcing the deal. Law.com (sub. req.) has a story. Such software is designed to get smarter as it is used.
Jonathan Klein, chair of DLA Piper’s U.S. mergers and acquisition practice, said in the press release that the technology will make due diligence faster and more efficient, and will mitigate risk throughout the due diligence practice.
“We believe that this innovative technology will do for corporate transactional work what e-discovery has done for litigation,” he said.
DLA Piper already tried the software in its corporate, intellectual property and technology practices. It resulted in “tangible improvements in speed and accuracy,” according to the press release. The law firm hopes to expand its use of Kira to other practices by teaching it to identify provisions needed for contract review in those areas.
DLA Piper isn’t the only law firm using artificial intelligence technology. Baker & Hostetler is using Ross Intelligence for legal research in its bankruptcy practice. Latham & Watkins is also using the software, according to Law.com.
ABA Journal: “How artificial intelligence is transforming the legal profession”