UK News
Dickson Minto has selected Luminance as its artificial intelligence platform for due diligence after a competitive selection process and pilot exercise. The Luminance platform has the ability to quickly understand and prioritise documents in a data room.
The software uses sophisticated pattern recognition and machine learning to identify contracts and clauses and to highlight anomalies between documents and contracts. Luminance continuously learns as it is used by a law firm.
Dickson Minto is the first Scottish firm and one of the largest City firms to adopt Luminance's artificial intelligence technology. The technology will make Dickson Minto's document review more efficient, freeing up lawyers to focus on what matters.
Douglas Armstrong, partner at Dickson Minto, commented: "Given our focus on complex cross border transactional work, it is essential that our lawyers have the tools to deliver high quality service to our client base. Luminance will enhance our due diligence on M&A and capital markets transactions as we embed it into our review processes.
We were at the forefront of online data rooms in the late 1990s and it is important that we are influencing the early stages of artificial intelligence's impact on legal transactions. We look forward to seeing how the technology evolves as it is utilised and is taught our approach to due diligence."
“Luminance’s cutting-edge technology complements Ice Miller’s innovative approach to meeting client needs,” said Emily Foges, Luminance CEO. “The firm has recognised that Luminance’s flexible, ‘plug and play’ artificial intelligence technology can transform its approach to legal contract review.”
Emily Foges, CEO of Luminance said: "We are delighted that Luminance has been selected by Dickson Minto to support its lawyers on corporate transactions. Luminance works seamlessly across legal teams in different offices, and we are delighted that Dickson Minto's significant presence in London and Edinburgh makes them our first client to operate in both jurisdictions."
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