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Luminance

Luminance

AI trained on 150 million legal documents that reads contracts the way a senior lawyer would — identifying anomalous clauses missing provisions and risk patterns across large document sets.

4.5 (0 reviews)
Paid

“Luminance resides at the higher end of legal AI: this is the tool firms reach when they need to put more than tens of thousands of contracts in front of the system, such as in M&A due diligence or portfolio-level contracts.” The AI had been trained on “more than 150 million legal contracts," meaning “has developed a very sophisticated legal-specific understanding of what standard looks like, and so what non-standard looks like” for those clauses. “Auto-Markup takes the contract and generates redlines according to both what the market considers standard and the positions you are trying to negotiate towards." The system has an “anomaly detection” capability, “allowing users to identify clauses that are inconsistent with the AI’s model of agreements of this type, enabling it to highlight unexpected clauses in agreements that might not fall through the cracks if relying only on keyword search.” It is used across “more than 70 countries by premier law firms and corporate in-house legal departments, providing genuine global coverage." It was demonstrated to have “88% accuracy on legal question-answering tasks," according to a “peer-reviewed Stanford University study." The “LUMI conversational AI assistant interacts via natural language with your document collection," enabling questions “against any contract within the collection or against specific portfolios." The only, arguably honest, reservation for Legal IT’s readers concerned in buying this product for use within their own organisation is how it is positioned, as it is pitched towards larger enterprise clients and is therefore sold “under a custom quotation through our direct sales process”, there being “no self-service purchasing option and this level of analysis and implementation necessarily takes longer”. Nevertheless, for those law practices and in-house legal teams needing to process large volumes of documents, its differentiation from lesser tools is significant.”

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