Uria signs up with Luminance for contract review
Slaughter and May’s Spanish best friend Uría Menéndez has signed up with AI-backed contract review provider Luminance.
The Iberian giant is using Luminance’s technology, which is language agnostic, to improve the efficiency of its contract review process on multilingual projects.
Santiago Gomez, IT Director at Uría said: “We have done a lot of research on different AI technologies (legal and non-legal specific), AI vendors, and also at universities where the basic AI research is taking place. We believe that, at this stage, Luminance is one of the very few companies in this market that has a clear idea of what AI can do for legal and has a product to demonstrate it.”
Emily Foges, CEO of Luminance, said: “Uría Menéndez has chosen to partner with Luminance as they recognise that our technology is transforming how lawyers work and will add enormous value to their practise.”
As revealed by Legal IT Insider, Slaughter and May has a 5% stake in Luminance, having worked with the company, which is backed by Mike Lynch’s investment vehicle Invoke Capital, to develop and incubate its software.
Luminance, which was launched in September 2016, has now seen its technology used in the due diligence process for over 110 transactions globally and is already working with clients in 12 countries.