Kira Systems Granted Patent on Method for Improving Accuracy of Machine Learning Technology

Written by: Kira Systems

December 8, 2015

2 minute read

Also Releases New Capabilities to Search and Analyze Contracts for General Commercial Terms, Risk and Compliance, ISDAs

Kira Systems, the leading machine learning contract analysis software provider, announced today that it had been awarded a patent for a new machine learning method that can notably improve the accuracy of software that identifies and classifies concepts that appear in text. This new patented method, developed by Alexander Hudek, Co-founder and CTO of Kira Systems, is just one of many proprietary machine learning methods invented by Kira Systems in the development of its contract analysis software.

“The accuracy of our contract provision identification and classification is critical to our customers,” said Hudek. “We take great pride in our home-grown technology, and will continue to work on innovations that maintain our position as the contract analysis software of choice when accuracy matters.” Kira Systems has been adding to its in-house R&D staff to support its growth.

Kira Systems’ customers use Kira for due diligence, contract obligation management, contracting simplification, cost recovery, compliance, and other use cases where visibility into contract provisions is critical. Using Kira Quick Study, customers can teach the software to automatically identify and extract any contract provision they wish, effectively turning Kira into a highly accurate search engine for their contracts. Kira Systems' customers have already trained thousands of custom provision searches with the tool.

Kira Systems also announced the immediate availability of new modules that can automatically identify general commercial provisions (such as automatic renewals and waiver), compliance (such as FCPA and export controls), and items from ISDA schedules (where key information from executed International Swaps and Derivatives Association Master Agreements lives). The new provision modules are in addition to existing Kira capabilities to accurately identify commonly needed provisions in due diligence and commercial leases, and bring the total number of Kira’s currently available built-in provision models to over 100.

“Quick Study is easy to use and customers have built new search capabilities faster than we ever imagined. However, it’s also important to give them a jump-start,” said Co-founder and CEO Noah Waisberg. “The new built-in provision models cover some of our most commonly requested areas, and allow customers to get actionable results from using Kira even faster than before.”


About Kira Systems

Kira Systems’ technology is a powerful, award-winning software solution that excels at searching and analyzing contract and document text, helping the world’s largest corporations and professional service firms uncover relevant information from their contracts and related documents. Kira can be deployed for contract intelligence due diligence, knowledge management, real estate, regulatory compliance, and wherever visibility into contract and document data is critical. Using Kira Quick Study, our no-code machine learning platform, anyone can train Kira to accurately identify and answer a question about virtually any desired clause or data point from their business documents. To find out more, please visit www.kirasystems.com.

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