Luminance launches AI tool designed to transform in-house legal work

With in-house teams around the world grappling with growing numbers of contracts stored across multiple repositories and increased pressure to comply with complex regulation, Luminance's new Corporate product will allow in-house counsel to save time and resource, streamline legal processes and gain greater insight into their contractual landscape. Instead of manually sifting through contracts in order to identify and collate key information, Luminance's AI-powered technology will give in-house teams immediate insight into their contracts, highlighting key features such as clauses, parties and Governing Law. Crucially, for the first time ever, in-house lawyers will be able to tap into Luminance's powerful machine learning for contract analysis from within Microsoft Word, all during the regular workflow of their review. For contracts under negotiation, Luminance has the ability to proactively search documents to see what changes have been made by counterparties, including those changes which may have been conducted without track changes being switched on in Word. When negotiating on a specific clause, Luminance will show lawyers precedent at the click of a button, highlighting areas where conceptually similar clauses have been previously signed off by their organisation.