Luminance’s ‘Diligence’ legal tech platform is used by the law firm for M&A due diligence, real estate and data protection compliance
Support Independent Law News Here
2 March 2021- Luminance, the leading artificial intelligence platform for the legal profession, has announced that innovative Portuguese law firm, Vieira de Almeida (‘VdA’), has become the latest customer to adopt the Luminance platform, providing further evidence that law firms are seeking a full service solution for all of their legal review needs.
VdA first adopted Luminance’s ‘Diligence’ platform to support their corporate work over two years ago. Since then, the firm has used the machine learning technology to transform a variety of legal use cases including M&A due diligence, real estate and data protection compliance. Now, VdA’s Competition and Litigation teams are using Luminance’s Discovery tool to expedite competition and litigation work, with the technology enabling the firm to rapidly analyse vast volumes of data in order to quickly and rigorously get to the heart of the matter.
Luminance is the only technology on the market to combine both supervised and unsupervised machine learning to actively read and form an understanding of legal data. This flexible machine learning approach underpins both the Discovery, which saw a 70% uptake in adoption in 2020,and Diligence platform and ensures that, even with no machine training or configuration, Luminance is able to surface key information such as datapoints, document types, patterns and anomalies, becoming increasingly sophisticated with continuing use. VdA are currently using Luminance Discovery to vastly expedite several ongoing competition law investigations with thousands of documents, which the firm estimate would take many months to review using manual methods.
Nuno Carrolo dos Santos, Managing Associate at VdA, comments: “We have been successfully using Luminance’s AI-powered Diligence platform in VdA for over two years. We have now recently adopted the Luminance Discovery platform, which we are currently using with high expectations in several projects. Using Luminance Discovery, team members can work collaboratively and securely access, analyse, filter, find relationships, comment and classify very large sets of documents. By allowing our lawyers to perform a variety of legal reviews using this technology, we are able to save significant time and resource and deliver a better, more high-quality work product to our clients.”
Luminance’s Head of Sales, Jaeger Glucina, adds, “In a fast-moving and competitive legal landscape, lawyers need to be able to respond quickly and decisively to their clients’ demands. Adopting multiple technologies that are limited to solving only specific legal problems is an outdated approach- Luminance provides an end-to-end solution for lawyers, enabling them to get to the crux of the deal or the investigation with unmatched speed and insight.”
Luminance is used by over 300 law firms and organisations worldwide including all of the ‘Big Four’ accounting firms and over one-fifth of the ‘Global Top 100’ law firms.
Luminance is the leading artificial intelligence platform for the legal profession. Founded by mathematicians from the University of Cambridge, Luminance has developed the Legal Inference Transformation Engine (LITE), the first true application of machine learning to the legal industry, combining pattern-recognition technology with supervised and unsupervised machine learning to read and understand human language. Luminance is used by law firms and in-house teams in over 50 countries around the world to improve processes such as due diligence, contract negotiation, regulatory compliance reviews, property portfolio analysis and eDiscovery. The company has offices in London, Cambridge, New York and Singapore.
- Chapman Tripp – FMA Releases Guidance for fund managers to ensure their fees are reasonable
- Bell Gully – Access to justice cuts both ways: Class action law reform must ensure that all parties are treated fairly
- Duncan Cotterill Expands to Queenstown & Secures Major Property Client
- Social Media Marketing for Lawyers:
- The Asia Pacific Law Firm Hourly Rate Report Released