-10 August 2020- Luminance, the market-leading artificial intelligence platform for the legal profession, has expanded its services into Macedonia with the signing of ODI Skopje office (part of the ODI law group), who saw time-savings of 93% on their very first Luminance-assisted review.
ODI Skopje decided to deploy Luminance after completing a buy-side due diligence project. Unlike other technology vendors which require lengthy set-up and training periods, Luminance’s powerful machine learning technology and easy cloud-deployment ensured that on day one of the review, ODI Skopje were able to gain total insight into the entire document set. Indeed, by combining both supervised and unsupervised machine learning algorithms, Luminance actively reads and forms an understanding of legal data, instantly surfacing key information such as standards, deviations and anomalies. The team particularly benefitted from Luminance’s ability to learn from the interactions of the reviewer- for example, when the lawyers tagged crucial ‘Data Protection’ clauses, Luminance was able to apply this learning throughout the data set to label similar clauses, despite never having been exposed to Macedonian-language documents before. ODI Skopje reported that when using another tech vendor for a similar project, the review took over three weeks. Using Luminance, the firm completed the entire review in just seven hours, representing an impressive 93% time saving.
ODI Skopje are now looking to deploy Luminance to assist with compliance reviews for Macedonian data protection laws (the Law on Personal Data Protection 2020), which is fully harmonised with the European GDPR (General Data Protection Regulation) and came into force earlier this year.
Gjorgji Georgievski, Partner at the firm, states: “At ODI Skopje, we see Luminance as a value driver that is going to allow our lawyers to work faster, smarter and deliver a better end-product to our clients. The unique flexibility of Luminance’s technology means that we are able to use the platform for a wide array of use cases- due diligence and regulatory compliance is just the beginning.”
Luminance’s acting CEO, Jason Brennan, comments: “It is incredibly exciting to welcome our first Macedonian customer. As a highly scalable and flexible solution, Luminance will empower ODI Skopje to meet their every legal need, in turn driving productivity and efficiency in their legal services.”
Luminance is now in use by over 250 law firms and organisations worldwide.
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 50 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 ODI Skopje
ODI Skopje is part of ODI Law, a leading regional law firm which regularly advises clients on complex cross-border transactions in South East Europe. The firm have extensive experience in advising clients on a broad range of matters including mergers and acquisitions, restructuring and insolvency, banking and finance and dispute resolution. They also have strong practices in competition, commercial, employment, intellectual property and technology, telecommunications and media and real estate.
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