How did you first work with Luminance?
In September 2016, we were presented with a unique opportunity to collaborate with Luminance and be right at the cutting edge of Artificial Intelligence in the legal profession. The decision to do so was straightforward for us.
Why is it important for Slaughter & May to adopt legal technology?
As a firm, we cannot afford to stand still when it comes to the adoption of legal tech – we recognise that it is absolutely necessary in order to maintain our leading position in an increasingly competitive, diverse legal landscape.
How do Slaughter & May attract the very best of trainee lawyers?
We recognised early on that it is vital to keep up with the expectations of our talented recruits. Luminance’s highly sophisticated algorithms, combined with our firm’s legal expertise, had the clear potential to transform due diligence and other data analytical activities in the legal sector thereby attracting, and actually nurturing, the brightest minds in the profession.
What benefits did Luminance bring?
Within a short time, it became clear that Luminance was not only going to enhance the way we conduct our legal work for the benefit of our clients, but also improve the working lives of our people. For one, the time saved from adopting the technology allows them to focus their attention on things that add real value to our clients and our business. In addition, we have found that having the technology has given us the ability to take on new projects that we wouldn’t have been awarded previously or we wouldn’t have been able to do without the technology - so it is positively impacting not just how we work but the types of tasks we can tackle and the results and insights that we can deliver.
How have you rolled out the technology at Slaughter & May?
Luminance’s inherent flexibility means that the product is now widely adopted across our firm by all our lawyers, and well as our knowledge, risk, compliance and pricing teams. Having started as an M&A due diligence product almost three years ago, we are now using it across all of our practice areas to assist with all different elements of our work, and we continue to find new and interesting projects on which we can deploy it.
What has been your overall experience of Luminance and what are you looking for next?
It has been a pleasure for us at Slaughter and May to see the development and rapid success of Luminance since its relatively recent inception. Luminance is an example of true innovation, and we are looking forward to seeing what is next on the horizon.
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