Another Nordic law firm now piloting Luminance AI
Nordic law firm Roschier is using Luminance’s artificial intelligence technology to improve the efficiency of its due diligence in M&A transactions. Roschier is currently piloting Luminance in an M&A project involving a team that spans the firm’s Helsinki and Stockholm offices. Luminance enables increased and real-time collaboration between the two offices and project management, in addition to its powerful AI technology. Roschier conducts a large number of transactions and expects Luminance to add significant value to its usual review processes.
“We see many benefits arising from the use of artificial intelligence in our business, one of them being efficiency in document reviews, for example in M&A transactions,” said Tero Jormanainen, the Roschier partner who is overseeing the project. “It also increases the relevance of the lawyers’ work by reducing the quantity of administrative work. We see ourselves as a forerunner in many areas and introducing AI-based solutions is a natural step in developing our services. Going forward, the aim is of course to demonstrate direct benefits to our clients as well.”
Luminance launched in September 2016 and recently announced that BA-HR, one of Norway’s top law firms, has successfully completed four transactions using the Luminance system.