Source: AIGC Open Community

On August 16, Litera, the global leader in legal technology solutions, announced on its official website that it has integrated generative AI into its contract analysis software Kira to help lawyers comprehensively improve the efficiency of contract analysis, review and query. (Address for application experience:

It is reported that Litera uses the GPT-3.5 large language model of Microsoft Azure OpenAI. Through its internal 1 million legal contracts and 500,000 real case data, the model is fine-tuned and pre-trained, which can extract summaries, review, and query , Interpretation of legal contracts and other functions.

Founded in 2001, Litera is one of the earliest legal technology solution service providers in the world. It mainly provides legal document drafting, verification, and litigation document management. Typical customers include Dentons, Freshfields, Linklaters, Baker McKenzie, CoffinMew, etc. A world-renowned law firm.

In order to expand its product matrix and market influence, Litera fully acquired Kira, a legal contract intelligent analysis platform, in August 2021.

As of now, Kira has processed 13 million legal contracts, billions of dollars in transactions and more than 85,000 projects, accumulating rich technical experience and legal data, laying the foundation for the application of generative AI.

Usually, lawyers need to read a large number of legal documents, clauses and precedents when dealing with lease, transaction, commercial and other contracts to ensure that the validity of the contract complies with laws and regulations. However, in the process of consulting, not only a lot of time is wasted, but also human-made information errors are easily caused.

Therefore, using generative AI such as ChatGPT to analyze and verify legal contracts has become one of the best solutions. With the blessing of the GPT-3.5 large language model, Kira has the functions of extracting abstracts, interpreting contracts, and verifying queries.

**Extract abstract:**Kira supports the function of helping lawyers quickly generate abstracts of contracts or other legal documents through text question and answer. For example, in a 50-page commercial transaction contract, key legal clauses and responsible person information are extracted.

**Interpretation of contracts: **Usually large-scale commercial transaction contracts involve a wide range of laws, and some contracts have more than hundreds of pages in content. It is very difficult to find relevant information only by manual inquiry. The important content of the contract can be quickly interpreted through text question and answer.

For example, through text question and answer, a detailed interpretation of the "unlimited liability" regulation in a labor contract may bring potential risks to customers.

Verification query: The verification and query of legal contract content is one of the most time-consuming business processes for lawyers. For example, an auto insurance contract contains an indemnification clause that "requires Party A to bear all losses under any circumstances", which is very unfavorable to the insurer, especially if the loss is intentionally caused by the customer.

Through the text question and answer method, the risks of the regulations can be found within a few minutes, and suggestions for optimization can be made.

Litera CEO Sheryl Hoskins said, combining Litera's leading technology solutions with generative AI will greatly improve the efficiency of legal work and free lawyers from tedious and repetitive business Precious time is spent communicating with customers.

In addition, the integration of this technology has further established Litera's leadership in the field of legal services.