Mindcrest bolsters CLM Services
with AI and Machine Learning Adoption
October 17, 2017
CHICAGO- October 17, 2017- Leading legal services firm Mindcrest Inc. has become a Kira Certified Service Provider. The partnership will combine Kira’s expertise in machine learning technology with Mindcrest’s proficient knowledge of contract review to provide high-efficiency services to its clients.
“The Mindcrest-Kira Systems partnership will be advantageous to our clients as it allows them to reap the benefits of accelerated due diligence and contract reviews on large-scale, time sensitive matters,” said Ganesh Natarajan, co-founder and CEO at Mindcrest. “The integration of contractual data and clause variations by our lawyers utilizing machine learning features will further improve the tool’s efficiency.”
As a frequent tester of technology vendors globally, Mindcrest has been working closely with providers like Kira Systems to evaluate AI tools and enhance its services by optimizing each distinct feature of machine learning technology in a variety of instances. Mindcrest’s comprehensive understanding of these current technologies equips them to manage the variety of tools pertinent to each client’s needs. Services including M&A due diligence, CLM implementation/migration and regulatory compliance can now be enhanced using machine learning technology. The collaboration between Mindcrest and Kira Systems showcases new technology enabled services that were not previously available.
“Most current use cases for tech-enabled services have come from M&A due diligence and similar transactional reviews,” said Vishal Anand, Senior Vice President Contract Solutions at Mindcrest. “We plan to expand the use of AI in the area of regulatory compliance with inputs from our team of specialized lawyers and SMEs.”
New approaches to AI are rapidly evolving within the legal services industry. Mindcrest’s SWAT team uses their own evaluation criteria to explore, test and enhance the next generation of Contract AI tools in their labs before using them in a production environment on appropriate client engagements.