-[29 June 2020]- id est avocats, a boutique corporate and technology law firm based in Switzerland, has decided to adopt Luminance, the leading artificial intelligence platform for the legal profession, to support the growth of its M&A practice.
id est avocats recently used Luminance to assist with a complex due diligence and get immediate insight into documents, breaking down the dataset across multiple parameters including contract type, language and governing law, whilst also tagging anomalies, clauses and other key datapoints.
Luminance’s powerful machine learning is able to rapidly read and form an understanding of documents. Luminance automatically highlights anomalous areas or those that may present risk, as well as tagging key information across the entire data set. By vastly reducing resource needed for each project, firms can either take on cases traditionally reserved for larger firms or undertake additional projects and increase their competitiveness in a dynamic legal market where agility is perceived as key differentiator.
Mehmet Toral, Partner at id est avocats, comments: “We continuously try to improve our processes to bring value to our clients. Relying on top of class technology solutions such as Luminance has been key to grow our business with a sophisticated client base interested in hiring law firms focusing on efficient and agile service delivery. By accelerating the due diligence process, Luminance will allow us to take on cases that were previously too resource and labour-intensive to be conducted manually.”
Jason Brennan, Luminance’s acting CEO, adds: “We are delighted to have id est avocats on board. Luminance is a technology can be used by firms of all sizes. It is exciting to see boutique firms like id est harnessing Luminance’s machine learning to optimise due diligence, giving the firm competitive leverage to take on more and larger cases.”
Luminance is now used by lawyers in 50 countries across the globe, including all of the ‘Big Four’ Accounting firms and over one-fifth of the ‘Global Top 100’ law firms.
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 48 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 and Singapore.
About id est avocats
id est avocats is a Swiss boutique corporate and technology law firm assisting innovative businesses, successful entrepreneurs, top VCs and global brands navigate today's digital economy. The firm’s core expertise lies in technologies, innovation, privacy and security, intellectual property and corporate transactions. Access Linkedin page here.
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