Maddocks adopts Luminance AI in latest APAC win

Australian law firm Maddocks has adopted Luminance’s machine learning technology to streamline the due diligence processes. The firm selected Luminance due to its ability to significantly reduce the amount of time spent on a due diligence review compared to typical manual methods.

In particular, Maddocks valued the platform’s unsupervised machine learning capabilities, which identified new clauses, similarities and differences within contracts in the data room from day one of the pilot.

“We have been looking for an AI tool to help assist with the streamlining of our due diligence processes and Luminance provided a good solution for us,” added Ron Smooker, Partner at Maddocks.

“The platform provides our lawyers with an instant insight into the data room, allowing them to structure our review and deliver considerable time savings and efficiency gains compared to a manual review alone. We’re looking forward to exploring the opportunities Luminance can deliver in our business and pass these benefits on to our clients.”

Luminance applies machine learning technology developed by mathematicians from Cambridge University. The platform reads and understands legal documents in a similar way to humans, coping with volumes and working at speeds that no human can match. The technology instantly sorts and classifies documents while highlighting possible anomalies for lawyers’ review.

Top-tier Thai firm Weerawong, Chinnavat & Partners has become the first law firm in Thailand to deploy Luminance’s technology to improve the efficiency of their contract review. This follows the opening of Luminance’s office in Singapore and shows the growing demand for the technology in the APAC region.

Weerawong C&P is one of Thailand’s largest independent firms, with a team of 15 partners and more than 85 lawyers. Chinnavat Chinsangaram, Senior Partner at Weerawong C&P said, “We are a firm that embraces innovation and we achieve results for our clients by implementing strategies that have not been previously approached. Luminance allows us to transform our due diligence processes to create a more efficient system and deliver an even better service to our clients.”

 

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