Jaeger Glucina, Managing Director and Chief of Staff at Luminance, believes that AI has the power to revolutionize the legal landscape by automating the mundane tasks, leaving legal professionals more time to focus on strategic aspects of their work. Luminance, a UK-based company specializing in AI for legal professionals, is gearing up to launch Luminance Autopilot, a fully automated contract negotiation tool that aims to streamline the negotiation process.
Traditionally, legal professionals spend a substantial amount of time reviewing contracts, with tasks like reviewing non-disclosure agreements (NDAs) taking up to an hour. Luminance Autopilot aims to change this by automating the negotiation process, allowing legal professionals to focus on higher-level strategic decisions.
During a demo at Luminance’s London office, Autopilot was showcased in action. The tool, through a sophisticated AI system, rapidly reviewed an NDA, proposed changes, and engaged in a negotiation dance with another AI representing the counterparty. The process involved amendments, clause adjustments, and a final agreement that was mutually acceptable to both parties.
Luminance Autopilot is an evolution of the company’s copilot tool, which color-codes clauses for legal professionals during contract reviews. Acceptable clauses are marked in green, unacceptable in red, and non-standard in amber. Autopilot takes this a step further by automating the negotiation process.
Built on a large language model (LLM), similar to ChatGPT, Autopilot is trained on over 150 million legal documents, providing a specialized understanding of legal language and terms. Users create knowledge banks that contain signed documents, enabling the software to learn the contract terms the company typically agrees to.
While other companies offer contract review technologies, Luminance is the first to announce a fully automated negotiation tool. Connagh McCormick, General Counsel at Prosapient, a Luminance customer, expressed enthusiasm about the potential of Autopilot, emphasizing that AI can enhance efficiency, allowing legal professionals to focus on more valuable and interesting aspects of their work.
Despite the advancements, Nick Emmerson, President of the Law Society of England and Wales, believes that AI will not fully replace the function of legal expertise provided by qualified professionals. He emphasizes the evolving nature of the legal profession, anticipating changes in job roles and required skills with technological innovations like Autopilot.