15 March 2022 | Top-tier law firm, Khoshaim & Associates (‘K&A’), has become the first Saudi Arabian law firm to adopt Luminance’s AI-powered contract analysis technology to expedite and enhance M&A and other due diligence processes.

Luminance’s award-winning technology, which uses supervised and unsupervised machine learning to read and understand legal documentation in any language, is now deployed by over 400 organisations in 60 countries. K&A’s adoption of Luminance follows a growing number of international organisations that are deploying the platform for all types of document reviews, from large-scale investigations to compliance reviews.

K&A recently used Luminance to conduct a due diligence review of nearly 600 Arabic and English documents. Within moments, Luminance immediately identified key ‘Change of Control’ and ‘Assignment’ clauses and pinpointed seven governing laws within the dataset, displaying this information to the K&A team via its intuitive user interface. Crucially, as a language-agnostic tool, Luminance was able to surface these insights in documents in both Arabic and English languages, ensuring nothing of importance to the case was overlooked. The K&A team were impressed with Luminance’s flexible technology, which can be taught new concepts in just a matter of clicks. As a result, Luminance then automatically surfaced all examples and variations of the relevant term, resulting in efficiency gains of 95%.

Zeyad Khoshaim, Managing Partner at K&A, said: “This type of technology will level the playing field in handling high-volume work that would have been typically reserved for larger firms. Adopting Luminance’s AI platform will also allow our team to focus on higher-level legal analysis, which brings value to our clients.”

Eleanor Weaver, CEO of Luminance, commented: “I am pleased to welcome our first Saudi Arabian client as Luminance continues to expand its global client base.. The technology will transform K&A’s everyday work by expediting the due diligence review process, providing the best possible service to their clients.”

Luminance is currently used by over 400 organisations in 60 countries worldwide, including all of the Big Four consultancy firms, over one fifth of the world’s largest law firms and in-house legal and compliance teams from leading organisations such as UK supermarket, Tesco, and global confectionary company, Ferrero. The platform is used by organisations working in over 80 languages.

ENDS

About Luminance
Luminance is the Contract Intelligence platform that turns the language that defines a business into the intelligence it runs on. Born out of the University of Cambridge and purpose-built by AI, legal and technology experts, Luminance understands the history and context of every contract. It acts on that intelligence, proactively surfacing risk, flagging obligations, accelerating negotiations and driving action across Legal, Finance, Procurement, Sales and the wider business. It enables enterprises to learn from their contracts, while contracts learn from the enterprise, helping businesses make better decisions and move forward with confidence.

About Khoshaim & Associates

K&A is the only leading full-service Saudi Arabian independent law firm. K&A includes a team of veteran Saudi Arabian and internationally qualified lawyers who advise on a wide range of practice areas. Their principal goals are to provide the highest quality of legal services to corporate clients and thus become an instrumental part in their success, as well as to elevate the practice of law in Saudi Arabia by recruiting, retaining, and advancing the brightest legal talent. Winner of various accolades, including National Law Firm of the Year (IFLR, Thompson Reuters), Best M&A Law Firm (IFN), and Corporate Law Firm of the Year (Chambers), K&A is the only independent Saudi Arabian law firm ranked band and tier 1 across various prestigious ranking journals.