29 June 2021 - Award-winning Greek law firm, Dryllerakis & Associates, has announced its adoption of Luminance’s AI-driven contract analysis tool to transform their M&A due diligence reviews.
Dryllerakis & Associates are the latest European firm to benefit from Luminance’s unique machine learning capabilities, which is now used in over 30 countries across the continent.
Athens-based Dryllerakis & Associates recently used Luminance to conduct an M&A due diligence review with over 6,500 Greek documents. As the only technology on the market to combine both supervised and unsupervised machine learning to read and form an understanding of contracts, on day one, Luminance was able to automatically surface key information such as critical clauses, document types and governing law as well as highlighting potential risks. Dryllerakis & Associates legal team were able to complete their review in a matter of days, dramatically reducing the time it would have taken to complete the same task manually. The firm are now planning to extend their use of Luminance to a wide variety of legal use cases, cementing their position as an innovative firm at the forefront of the Greek legal market.
Emmanuel Dryllerakis, Senior Partner at Dryllerakis & Associates, comments: “Before Luminance, we had to dedicate large amounts of resource to complete Due Diligence reviews. Excited by the possibilities of AI, we chose Luminance because we needed a tool that would allow us to work between Greek and English documents. The flexibility of the tool means that there is an opportunity to use the technology in other cases, such as real estate reviews to complement our work.”
Eleanor Weaver, CEO at Luminance, says, “We are very excited that Dryllerakis & Associates has seen the capabilities of Luminance’s cutting-edge, language-agnostic technology, allowing them to work seamlessly with Greek documents. With the explosion of data in recent years, manual document reviews have become a drain on lawyers’ time and resources, but Luminance is ensuring that legal teams are able to gain total insight into their contracts and spend more time on high-value analysis and client advice.”
Luminance is currently used in 300 law firms and organisations across 55 countries. The platform is used by lawyers working in over 80 languages, with over 40% of its customers working primarily with non-English documents.
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 Dryllerakis & Associates
Dryllerakis & Associates is a leading Greek law firm based in Athens, with 12 partners, 21 associates and 14 administrative staff. They have over 50 years of experience in all fields of business Law, offering creative, innovative and broad-minded solutions for their primarily international client base. Dryllerakis & Associates is a consistently top-ranked firm in all major legal research and analysis guides like Chambers, Legal500, IFLR.
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