How Luminance works
Luminance is a single, streamlined platform that is designed to fit seamlessly into your existing workflow. The intelligent viewer pairs the computing power of artificial intelligence with human training and experience to make contract review faster and more accurate.
Luminance uses a unique combination of supervised and unsupervised machine learning to find key information within thousands of contracts. Clauses, documents, currencies, locations, governing laws and more are automatically tagged for faster navigation of documents, while anomaly detection highlights areas of potential risk.
Luminance can be used for any project, in any language. No set up or training of the system is required and it has been designed to be intuitive and easy to use for everyone in a team.
Why use artificial intelligence?
Today, corporations are drowning in documents to the extent that no one person or team could even attempt to read them all. Sophisticated machine learning systems, however, are incredibly good at digesting data, drawing out significant patterns and correlations at near-instant speeds. This makes Luminance perfect for tasks that involve repetitive processing of large volumes of information.
Luminance helps lawyers to categorise, review and analyse thousands of documents at speeds no human can match. With AI taking the burden of low-level cognitive tasks – like those common in due diligence, compliance, insurance or in-house contract management – lawyers can optimise their practice, working smarter, faster and more effectively.
Anomalies are differences in structure and content that Luminance has identified between similar contracts. Using Luminance’s anomaly score, lawyers can pinpoint areas of potential concern from day one, focus on the most atypical documents and begin to compile a red-flag report at the outset of a project. Luminance has found over 8,000 anomalies in clients’ documents to date, including unusually worded clauses, missing or additional clauses, and missing pages.
Luminance’s unique data visualisation dashboard provides a global overview of any body of contracts, automatically identifying languages, currencies, locations, governing laws and more. Lawyers can instantly see where review needs to be focused and allocate resources accordingly.
Luminance puts the power of machine learning in your hands, using a unique blend of supervised and unsupervised machine learning to understand the complex language of legal clauses. It tags key clause types automatically, and learns from every project and contract it encounters, meaning that law firms can build up a custom clause bank with ease.
PLUG AND PLAY
Luminance is the first contract review technology to be entirely plug and play without sacrificing intelligence. Legal teams no longer have to adapt their work to the demands of complicated systems, but can begin using the platform with no set-up or training. The unique pricing and delivery model makes artificial intelligence accessible to firms of any size, while Luminance’s built-in integrations with major virtual data room providers remove any speed barriers to the transaction.
Luminance’s advanced algorithms automatically identify documents by type and expose clusters of similar documents. Importantly, the system does not refer back to a predetermined standard contract, or search based on keywords or file names. This means the system can be used to uncover differing template documents, or find groups of contracts that differ from the norm.
Project management takes up valuable time in legal teams of any size. Luminance’s built-in workflow tools enable documents to be assigned to team members with ease and eliminate the risk of contracts being skipped or reviewed multiple times. Annotations can be used to give advice, make recommendations or flag key issues, ensuring a tight feedback loop between the partner, team and client.
Data security and confidentiality are paramount to Luminance. We are compliant with international information security best practices to ensure every effort is taken to protect clients’ confidential data. Information uploaded to Luminance is stored securely on the Luminance cloud servers or on-site appliances. All data stored is encrypted to ensure that document content and metadata such as document annotations are protected. Luminance’s security advisors have a long heritage in this area, including building and maintaining the largest cloud in the world.