Luminance, the pioneer in ‘legal-grade’ AI, today announced the launch of its latest, cutting-edge development – Luminance Self-Serve. This AI-powered feature presents non-legal functions across a business with a new way of reviewing and amending counterparty contracts.

Underpinned by Luminance’s specialised legal Large Language Model (LLM), which has been informed by over 150 million legally verified documents, Luminance Self-Serve delivers next-generation AI to the entire enterprise. Non-legal teams, such as Finance, Sales or Procurement, can now use Self-Serve to negotiate and amend third party contracts in line with internal standards, helping to reduce the burden on legal teams and accelerate time to signature.

Upon document upload, Luminance Self-Serve instantly summarises any risks present within the contract, displaying the results of its analysis back to the user via an intuitive interface. For any area of a contract that poses possible risk, Luminance’s AI will suggest alternative, compliant wording which can be applied with the simple click of a button. Importantly, these suggestions employ previously agreed language that has been approved by the legal team, ensuring complete alignment with organisational standards.

Eleanor Lightbody, CEO of Luminance, said: “Luminance Self-Serve brings another level of efficiency to the table for non-legal teams. Empowering business users to perform the first pass review of contracts means fewer contract bottlenecks and a smoother commercial process than ever. More importantly, Self-Serve is freeing up time for legal teams, so they can focus time and resource on strategic work rather than reviewing standard contracts.”

ENDS

About Luminance

Built on a proprietary legal Large Language Model (LLM), Luminance’s specialised legal co-pilot uses next-generation AI to automate the generation, negotiation and analysis of contracts. Developed by world-leading AI experts, validated by leading lawyers, and in use by over 500 customers in 60 countries, Luminance’s ‘legal-grade’ AI is a key component of any legal team.