Deloitte Legal Spain adopts Luminance’s AI platform 13 March 2019 | Madrid
14 March 2019 – Deloitte Legal Spain has chosen to deploy Luminance’s artificial intelligence technology, as consultancy firms across the world continue to adopt technology to facilitate legal work.
Deloitte Legal Spain adopted Luminance following a two-week trial in which the firm compared the manual findings of a historic due diligence matter against those found using the technology. Throughout the trial, Luminance afforded the firm significant time savings and added insight into the data room. The platform’s ability to categorise and structure documents to prioritise review, through cutting-edge machine learning capabilities, enabled Deloitte Legal to power through the review with added confidence.
“What impressed us most about Luminance was its simplicity and speed. As a firm with a key interest in tech-enabled services, it seemed a logical fit to adopt a technology that contributes in terms of efficiency and reduces quality risks. With Luminance, we will be even more capable of delivering the very best results. Its highly visual and intuitive software display is another major advantage, ensuring that we are keeping up with the demands placed on us,” explained Manuel Fernández Condearena, M&A Partner at Deloitte.
Throughout the trial, Luminance’s language-agnostic capabilities were of special interest to Deloitte, especially the platform’s ability to learn new legal concepts in non-English languages, such as Spanish.
Sitting in the top three of Actualidad Económica’s ‘100 Best Companies to Work for in Spain’, Deloitte is dedicated to upholding a global reputation for innovation. Luminance CEO, Emily Foges, described their recent adoption of the platform as “another fantastic step towards demonstrating how relevant, and increasingly vital, AI is to keep up with the challenges facing firms. Deloitte Legal is a world-leading example of progress and high quality – I am confident that their deployment of Luminance will further pave the way for the continued rise of AI.”
Since launching in September 2016, Luminance already has over 140 customers in 40 countries across six continents, including 15 of ‘The Global Top 100’ law firms. The company recently announced the opening of a fifth global office in New York to support this global growth, adding to bases in Chicago, Singapore, London and Cambridge.
About Deloitte Legal
Deloitte Legal is one of the most recognized legal and tax firms both in Spain and globally, providing legal advice to a large majority of the leading companies. With more than 650 professionals in Spain, distributed in more than fifteen expertise areas, Deloitte Legal leads the legal sector, being repeatedly recognized in international awards, such as the ‘Best Spanish Tax Firm’ in 2017 and ‘Best Spanish Transfer Prizing Firm’ in 2018 by the European Tax Awards, with more than nine lawyers across different specialities qualifying in the prestigious North American “Best Lawyers” ranking. Deloitte Legal is currently ranked in Band 5 in the area of Corporate M&A by Chambers & Partners.
Launched in September 2016 and already in use on six continents, Luminance’s document review platform offers lawyers greater insight at unmatched speeds. Luminance builds on ground-breaking machine learning and pattern recognition techniques developed at the University of Cambridge to read and understand legal language. The technology is used by law firms and in-house teams in over 40 countries around the world to improve processes such as due diligence, compliance reviews, property lease abstraction and eDiscovery. Luminance has offices in London, Cambridge, Chicago, Singapore and New York, with over 130 customers including 15 of ‘the Global Top 100’ law firms and three of the ‘Big Four’ accountancy firms.
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