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Firm profile for Law Tech 2022

Law Tech

About

This content is provided by Luminance.

Firm Overview:
Luminance is the world’s most advanced AI for the legal processing of contracts and documents, trusted by over 400 organisations in 60 countries globally. This includes all of the Big Four consultancy firms, a quarter of the world’s largest law firms including Slaughter and May and White & Case, and multinational organisations such as UK supermarket, Tesco, and global confectionary company, Ferrero.

Founded by mathematicians from the University of Cambridge, Luminance’s AI reads and forms a conceptual understanding of documents in any language. Luminance uses this understanding to augment a vast range of tasks: from taking a first-pass review of any incoming contract to automatically flagging contractual anomalies; from highlighting areas of non-compliance to be remedied, to labelling clauses or applying advanced AI-driven ECA and TAR within eDiscovery matters.

Luminance can hierarchically assign workflows and automate low-level tasks, freeing up resource for strategic thinking, analysis and advice. Using Luminance, lawyers can gain rapid insight into matters, forming strategy and directing resource accordingly. With no stone left unturned, lawyers can advise their business or client quickly and gain the competitive edge in negotiations.

In recognition of its next-generation technology, Luminance is the proud recipient of a Queen’s Award for Innovation, has been named a Technology Pioneer by the World Economic Forum and was listed in Tech Nation’s Future Fifty cohort.

The Luminance Product Suite
Luminance’s AI has analysed over 100 million documents across hugely diverse fields of law, making Luminance the most advanced language model accessible to lawyers today. It is this understanding which powers Luminance’s three products, which augment and automate legal document processing across the spectrum of legal matters.

Luminance Corporate
Luminance Corporate uses next-generation AI to enhance and expedite the entire contract lifecycle process and automate legal processes. With Luminance, organisations can see all of their contracts in one platform, showing both the status and workflow of contracts currently under negotiation as well as an AI-powered index of executed contracts. Fully integrated with Microsoft Word, Luminance is the first AI that can be used out-of-the-box to take a first-pass review of incoming contracts, with in-built knowledge banks suggesting compliant wording for areas that present risk, whilst easy-to-use Legal Process Automation tools ensure smooth, hierarchically-assigned contract flow.

Luminance Diligence
Luminance Diligence uses next-generation AI to enhance and expedite a vast range of contract review projects, from M&A due diligence and lease reviews, to ensuring compliance with data protection regulations, contract consolidation exercises and repapering. Luminance’s AI works out-of-the-box to identify over 1,000 different concepts within executed contracts, as well as flagging anomalies that lawyers might not have otherwise been aware existed. Luminance helps lawyers to maintain compliance with advanced in-built clause and document comparison technology, and can also be used for redaction, reporting and contract remediation.

Luminance Discovery
Luminance Discovery uses next-generation AI to provide legal professionals with an end-to-end eDiscovery platform. Able to enhance and expedite a range of matters, Luminance can be used across investigations and litigation to ensure compliance with data protection regulations. The technology can be deployed and used within hours, requiring no pre-programming or lengthy user onboarding, enabling lawyers to quickly get to the heart of a matter with AI-powered search and filtering functionality and data visualization technology to cull irrelevant information within minutes.

The Benefits of an AI-Augmented Legal Team 

SAVE TIME, REDUCE COST AND FOCUS RESOURCE
Luminance cuts the time spent on document review by as much as 90%, allowing lawyers to focus their attention on strategic business tasks instead of being slowed down by repetitive, manual legal processes.

OPEN NEW REVENUE STREAMS AND DRIVE BUSINESS GROWTH
Use AI-generated time-savings to improve operational efficiencies and complete projects that might have otherwise been too resource-intensive.

MITIGATE RISK AND MAINTAIN COMPLIANCE
Luminance instantly flags anomalies that might pose risk within documents and, by utilising existing institutional knowledge, Luminance automatically looks for similar executed contracts to the one under negotiation and suggests acceptable clause wording from previous agreements. For executed documents, Luminance helps to ensure compliance by allowing lawyers to select their desired ‘model’ versions of clauses or documents to compare other contracts.

GAIN A COMPETITIVE ADVANTAGE
Luminance enables lawyers to gain quick and thorough insight into their contracts, surfacing buried deal killers or critical findings at a far earlier stage of the review. With faster identification of key information, lawyers gain an immediate understanding of the relative strengths and weaknesses of a review, placing them in the best position to provide strategic advice, negotiate or settle.

FACILITATE HYBRID WORKING
Automate business processes with Luminance’s automated contract drafting, legal Helpdesk, automatic alerting and Workflow Editor. Built-in workflow tools ensure no duplication of valuable work effort such as automatic task distribution, notes and batch document allocation.

To learn more about Luminance or request a demonstration, visit www.luminance.com or email [email protected].

Law Tech

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Head Office

firm
Head Office

6 Duke Street

St James’s

London

Greater London

UK

SW1Y 6BN

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