3 February 2021-Luminance, the leading artificial intelligence platform for the legal profession, has today announced that its pioneering machine learning platform will be adopted by Avianca S.A, the flagship Colombian airline and one of the biggest in Latin America, to optimise the company’s in-house document review processes.
Avianca’s adoption of Luminance marks the latest in-house customer win for the fast-growing AI company as increasing numbers of legal teams become more tech-savvy, efficient and sophisticated in the projects they undertake in-house. The financial impact of the Covid-19 pandemic has been significant for Avianca due to government-enforced travel restrictions. Avianca is now looking to drive efficiency and boost productivity across their business. In their legal function, using outdated and resource-intensive manual methods to review and manage contracts was a drain on both time and budget. Luminance’s technology will significantly modernise Avianca’s in-house legal department, allowing them to better understand their contractual landscape whilst also bringing much-needed time and cost-savings.
Luminance is the only technology to combine both supervised and unsupervised machine learning to read and form an understanding of documents, meaning that on the very first day of the review, Luminance was able to provide Avianca’s legal team with a comprehensive insight into their dataset, instantly identifying commercial clauses key to their review, such as Termination, Assignment, Confidentiality and Indemnification. The team has been particularly impressed with Luminance’s language-and-jurisdiction agnostic capabilities, allowing them to work seamlessly across English, Spanish and Portuguese documents. Luminance’s supervised machine learning has helped to increase review efficiency and ensure no small detail goes unnoticed: for instance, by tagging one example of a ‘Proveedor’ (provider) party in Spanish, Luminance instantly exposed five other similar examples present across the data set.
Avianca measured a 90% time saving in their first use of Luminance, completing their first 1,000-document review in just three hours. Avianca is now looking to use Luminance to manage and review over 30,000 documents, including supplier contracts, non-disclosure agreements and employment contracts.
Daniel Felipe Morales Martinez, Contract Manager at Avianca, comments: “In troubling economic times, investing in AI technology has never been more crucial to the success of our business, allowing us to cut costs and save valuable time. But more fundamentally, Luminance will allow our in-house team to have more control over our internal legal processes. This means we no longer have to rely on external counsel for complex reviews but can instead keep the work in-house.”
Luminance’s General Manager, Eleanor Weaver, adds, “We are very excited to welcome Avianca as our latest customer. The Covid-19 pandemic and the subsequent economic fallout has placed increased pressure on businesses to drive efficiency where it matters. Luminance’s ability to highlight key clauses and risks enables firms to respond quickly and decisively to legal challenges.”
Founded by mathematicians from the University of Cambridge in 2015, Luminance is now used by 300 law firms and organisations worldwide, including all of the ‘Big Four’ and over one-fifth of the ‘Global Top 100’ law firms.
Luminance is the leading artificial intelligence platform for the legal profession, with over 300 customers in more than 50 countries. Luminance’s machine learning technology reads and forms an understanding of documents, helping lawyers to perform the most thorough and rapid document reviews across practice areas including due diligence, contract negotiation, regulatory compliance reviews, property portfolio analysis and eDiscovery. Luminance has offices in London, Cambridge, New York and Singapore.
About Avianca Airlines
Avianca is the trademark for the group of passenger airlines and cargo airlines under the holding company Avianca Holdings S.A. Avianca has been flying continuously for 100 years. As of December 2019, the Company had over 21,000 employees, operated a fleet of 158 aircraft and served 76 destinations in 27 countries within the Americas and Europe. In 2019, the Company carried 30.5 million passengers, generating revenues of approximately US$4.6 billion.
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