Kira Systems releases Quick Study 2.0 for contracts

Kira Systems, the machine learning contract analysis software provider, has announced Kira Quick Study 2.0, a major upgrade to its proprietary technology that identifies clauses and other metadata from contracts and related documents.

The upgrade makes Kira faster at learning to identify new clauses, names, dates and other values. Kira employs a wide array of advanced machine learning techniques in order to achieve high accuracy, often with only a few dozen examples.

Kira Quick Study requires no technical expertise and no consulting engagements. New users can get started in minutes and teach Kira new concepts, often in under an hour, simply by highlighting sample language on screen.

Kira's technology is built and maintained by its in-house R&D team.

"We continuously improve Kira's technology, but never at the expense of the user experience. Maintaining an intuitive design is always of top importance," said Alexander Hudek, CTO and co-founder of Kira Systems.

"Behind the scenes, Kira algorithms look at thousands of factors. The upgraded algorithms use layout and location information as well as content to help Kira perform even better, particularly on data in forms and tables."

With respect to the upgrade, Chief Data Scientist Rob Warren explained, "We are constantly researching new techniques and looking for ways to improve speed and accuracy."

Hudek and Warren both hold Ph.D. degrees in Computer Science from the University of Waterloo, Ontario, Canada which is internationally recognised for its research programs in artificial intelligence and machine learning.

Kira Systems' proprietary machine learning technology excels at automatically identifying and extracting relevant information from all types of contracts, and organises it into metadata that can be exported and synced into other systems. Kira comes with built-in machine learning models covering general commercial terms, real estate leases and compliance terms, as well as provisions that are commonly reviewed in due diligence and post-merger integration.