Torys' Diligence Work Bolstered by AI Technology

Torys Director of Practice Solutions Elizabeth Ellis has said the “timeliness and quality” of firm’s diligence work has improved since using software by artificial intelligence firm Kira Inc.

Speaking with the Globe and Mail, Elizabeth said the firm had been using the Kira’s software since 2014, and it had allowed lawyers to provide the necessary level of feedback required for some of the firm’s bigger clients.

“It has enabled us to provide a kind of diligence review that would not be available without the product,” Elizabeth said.

The article talks about Kira’s raising of US$50 million from New York venture capital firm Insight Venture Partners and goes on to say the deal values the startup at more than US$100 million, making it one of the largest investments in Canada’s AI sector for 2018.