Source: Luminance
Luminance, the provider of Legal-Grade™ AI, announced the launch of ‘Lumi Go’. This world-first technological development allows Luminance customers to transform the way they negotiate contracts such as Non-Disclosure Agreements or Master Service Agreements, providing them with the ability to send draft agreements to a counterparty and have Luminance auto-negotiate on their behalf.
With Lumi Go, Luminance users can send a contract to a counterparty for signature as part of their normal workflow. But now, the recipient will receive access to a ‘lite’ version of Luminance within Microsoft Word, comprising Luminance’s AI-powered contract review and chatbot functionality, Ask Lumi. As the counterparty marks up the contract, they will receive real-time feedback on whether proposed changes are likely to be accepted by the Luminance customer or not. Going one step further, Luminance’s AI will even draft suggested alternative language that has a high chance of approval, which can be inserted by the counterparty with one click.
Lumi Go represents the first time that AI is automatically being made available to both parties during the negotiation of contracts. Luminance’s latest advancement saves companies vast amounts of time by significantly reducing back-and-forth communication, avoiding repetitive redlines on the same clauses, and accelerating time to signature for all parties involved.
“Lumi Go represents more than just a boost in productivity for routine contract negotiations; it offers a glimpse into the future of legal practice as AI continues to become more pervasive,” said Eleanor Lightbody, CEO of Luminance. “This world-first development represents a move towards seamless, interconnected systems that benefit all parties involved. It’s this network effect that will transform contract negotiations globally.”
Read the full article: https://www.luminance.com/news/press/20241211_luminance_launches.html
