In my time at Luminance, I’ve helped customers across all different industries to automate the work of their legal teams with AI. Even though attitudes towards AI are changing, many businesses have approached the situation with preconceived notions of challenges that may arise during roll-out, often informed by negative experiences with previous tech integrations. In my experience, this is often because legal teams have had their fingers burnt by clunky, run-of-the-mill technology, not next-generation AI. The concerns and complications that often plague the roll-out of other tech solutions are mitigated by the speed, agility and flexibility of AI. Today, I'm delving into three common pain points often linked with implementing AI and exploring why the process with Luminance is different.

Pain Point 1: Lengthy Roll-Out

It’s no secret that some legal teams can be tech-averse – and for good reason! Legacy, rules-based technologies can take months to train and are often accompanied by lengthy integration plans which drain a significant amount of a legal team’s time. With lawyers already contending with efficiency pressures, ever-growing compliance responsibilities and budget constraints, we understand that they simply don’t have the spare hours to train and implement a new technology.

That’s why Luminance is entirely plug-and-play. One of the greatest advantages of true AI is that it works out-of-the-box with no pre-programming required, ensuring businesses can see instant value from day one. Luminance’s AI-powered repository automatically extracts key information from all contracts, whether executed or under negotiation, providing instant insight. Luminance can automatically identify over 1,000 legal concepts, such as clauses, dates, parties, currencies and governing law. Luminance breaks down the the results of its AI-powered analysis across a series of visual, searchable and configurable widgets and dashboards, meaning lawyers have all their business’s key contract data at their fingertips.

So, how do we see this out-of-the-box approach deliver instant value? One great example is Colombia’s flagbearer airline, Avianca, which was able to upload over 1,000 documents and begin a Covid-19 related compliance review with Luminance in less than 24 hours. Having estimated that the review would take a whole month to complete, the team completed the project in just three hours with our AI! Plus, with the team working remotely due to the pandemic, Luminance’s remote, cloud-based deployment allowed them to get up and running on the platform in a matter of minutes.

Pain Point 2: Security Concerns

We understand that keeping legal data safe is the ultimate priority for every business. Implementing AI means engaging with a third-party vendor, so it’s natural to be concerned about the potential security issues that may entail. Furthermore, data privacy concerns around AI have recently been heightened by the security issues raised around ChatGPT.

At Luminance, security and data privacy is our top concern. Here’s a few ways we ensure a completely secure approach:

• Luminance is a completely technology-based solution. We do not offer consulting or other human-led services that would require our staff to read uploaded documentation.

• Customisable user permissions means access to documents is controlled entirely by key stakeholders on the customer-side. This ensures sensitive information can be siloed appropriately within your business.

• Luminance is ISO 27001 compliant. We have implemented international security standards and best practices at every layer of the company, and our security principles are overseen by world-leading experts in cybersecurity and national security.

• From our design and development practices, to partnerships, to staff culture and training, protecting our customers’ data is of utmost importance.

Pain Point 3: Tackling the Tech Sceptics

AI is still a relatively new technology, with many lawyers holding a healthy amount of scepticism about the potential it holds for legal teams.

For us, there’s no better way to show the value AI can bring to a business than allowing them to test it for free on their own documents. During our free-of-charge, two-week trial, businesses can see first-hand how AI increases productivity, reduces administrative work and transforms workflows. This trial is done with the support of a designated Account Manager and a Product Specialist, who are both experts in getting the entire team up to speed with Luminance.

During the trial, the team will get access to all of Luminance’s very latest features, including a brand-new AI-powered Chatbot! Ask Lumi allows lawyers to ask questions in a natural language format about their contract and receive instant answers. Questions like: ‘What are the contracting parties’ or ‘Is this NDA mutual’? You can even ‘Ask Lumi’ to create an executive summary of the contract! I’ve seen first-hand the instant impact this technology can have for legal teams, it’s a real game-changer.

If you’re interested in seeing what Luminance could do for your team, request a demo here