12 December 2019 -The internationally acclaimed law firm, Karatzas & Partners, is paving the way for innovation by being the first law firm in Greece to deploy Luminance’s market-leading platform.
Karatzas & Partners leveraged Luminance after completing a very complex due diligence exercise concerning one of its major clients. Luminance’s core technology, LITE (Legal Inference Transformation Engine), was able to immediately read and understand the dataset at hand, providing the legal team with an immediate and all-encompassing insight into the data room. As well as using Luminance to cross-check the work the advisors had conducted manually, LITE’s unique unsupervised machine learning abilities proved to be invaluable for the team by unearthing critical, hidden risks on day one of the review.
By harnessing the interactions the legal team had with the platform, Luminance not only provided the legal advisors with crucial time-savings, but also ensured that the lawyers were at the forefront of the review.
“Using Luminance, our team was able to gain an unparalleled insight into the data room. This not only saved us a considerable amount of time, but also allowed us to get to the crunch of the deal, with more confidence than ever before”, commented Anna Manda, Partner at Karatzas & Partners.
Luminance’s CEO, Emily Foges, is extremely pleased: “We are thrilled to announce Karatzas & Partners as our latest customer. By accelerating the review process, our technology brings new possibilities for lawyers. There is no ceiling on what Luminance can do. It is fantastic to have such a renowned and innovative firm on board.”
Luminance is the leading artificial intelligence platform for the legal profession. Founded by mathematicians from the University of Cambridge, Luminance has developed the Legal Inference Transformation Engine (LITE), the first true application of machine learning to the legal industry, combining pattern-recognition technology with supervised and unsupervised machine learning to read and understand human language. Luminance is used by law firms and in-house teams in over 45 countries around the world to improve processes such as due diligence, contract negotiation, regulatory compliance reviews, property portfolio analysis and eDiscovery. The company has offices in London, Cambridge, New York, Chicago and Singapore.
About Karatzas & Partners
Karatzas & Partners is a leading law firm, which has rapidly grown and expanded since its establishment in 1963. The firm offers legal services and advice on the entire spectrum of commercial and financial law, including banking and finance, capital markets, general corporate and commercial law, competition law/anti-trust, energy law, project finance, mergers and acquisitions as well as real estate law. The firm’s litigation department represents clients on all these matters before courts and arbitral tribunals. The firm is renowned for its first-class reputation, as reflected by Karatzas and Partners routine recognition by legal directories such as Chambers, Legal 500 and IFLR1000 as a top-tier firm, and the firm’s partners being selected as amongst the top lawyers in Greece.
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