Ask Lumi just got even more powerful! Two years on from the launch of our game-changing chatbot and the new features keep on coming… From Lumi Summary and Lumi Generate to Lumi Redraft and Agent Lumi, there’s not much our AI assistant, ‘Lumi’, can’t do. And now, users can ask any question about all contracts from across the entire organisation and receive immediate answers, with natural language responses, in-depth analysis and relevant information pulled into a comprehensive summary in seconds.

With this kind of granular insight at their fingertips, Lumi Pro is transforming how teams across the business understand and engage with their contracts. Here are just some of the ways I’m seeing Lumi Pro benefit various business functions…

Perhaps the legal team need an instant overview of any onerous language. The General Counsel could simply ask: “Summarise the risks in my contracts” and Lumi Pro provides an immediate summary of anything it deems a risk across all contracts. Whether that’s a non-standard liability clause or extended Termination for Convenience, risks will automatically be displayed for the user to compare and assess.

Beyond Legal, this development helps teams from across the business to dive into the risks, obligations and opportunities within their contracts.

Perhaps the marketing team want to check how vendors can use their customer data or Finance need to know when they’re required to issue invoices. Or Lumi Pro could help the procurement team identify any early payment discounts or commercial teams to check which contracts terminate in the next six months. This instant insight is revolutionary for any function coming into contact with a contract – i.e. every team. Lumi Pro will instantly filter down contracts from across the organisation and display the relevant information in a simple side-by-side comparison.

And to top it all off, you can save searches for common queries to fast-track Q&A. Maybe you’re always asking about auto-renewals – you can simply set this as a saved search and seamlessly select the question at any time. It’s easier than ever to jump into Luminance’s AI-powered repository and find the information you need in moments.

Request a demo or try it out on your own contracts today.