14 July 2023 | A British aerospace and engineering solution provider has adopted Luminance’s AI to centralise their enterprise data and achieve granular insight into their contractual obligations.

The multinational organisation, with customers in over 100 countries, chose Luminance to centralise over 5,000 commercial and customer agreements that had previously been siloed across the business. Luminance’s AI-powered contract repository now provides instant insight into the company’s expansive document landscape. Indeed, through its powerful ‘legal-grade’ AI, Luminance forms a conceptual understanding of contracts, visually representing insights across a range of interactive widgets including document types, clauses, anomalies, currencies, languages and regions.

Furthermore, Luminance’s AI automatically recognises over 1,000 clauses and concepts out-of-the-box for quick filtering, with automatic anomaly detection showing missing or non-compliant clauses. The legal team is using Luminance’s simple point-and-click functionality to create bespoke tags for projects, clients or business areas to allow for seamless searching across their contractual landscape.

Eleanor Lightbody, CEO of Luminance noted “The continued adoption of Luminance by world-leading organisation of this size is clear validation of our technology and the importance of delivering specialist AI to in-house legal teams operating in specialist industries. Luminance’s award-winning AI ensures that in-house legal teams are armed with essential knowledge about their contractual obligations, allowing them to effectively support their global business activities.”

This latest signing comes as Luminance continues its path of rapid growth, reporting a 336% YOY increase in customers for its flagship product, Luminance Corporate, with signings including Koch Industries, Yokogawa, and Hitachi Vantara.

ENDS

About Luminance

Luminance is the world’s most advanced AI technology for the legal processing of contracts and documents. Founded by mathematicians from the University of Cambridge, Luminance’s AI reads and forms a conceptual understanding of documents in any language. Luminance uses this understanding to augment the spectrum of legal matters, from AI-powered contract drafting, negotiation and review to investigations and eDiscovery. Luminance is trusted by over 500 customers in 60 countries, including all of the Big Four consultancy firms, a quarter of the world’s largest law firms and multinational organisations.