Ellex adopts Luminance’s leading artificial intelligence technology
Ellex has adopted Luminance, one of the most advanced artificial intelligence (AI) platforms, which is widely deployed by law firms around the world. The sophisticated machine learning technology will greatly accelerate and enhance the firm’s contract review processes for M&A transactions. The platform will initially be incorporated in the operations of Ellex in Lithuania (Ellex Valiunas).
According to Rolandas Valiūnas, Managing Partner of Ellex Valiunas, in the modern, global context of legal services, AI has become a standard, allowing lawyers to work faster and more effectively, “As a leading law firm in the Baltic States, we are driven by the challenges of tomorrow's business while offering today’s solutions. Therefore, given that AI technology is already being used successfully in the day-to-day processes of some of the largest law firms in the world, we are working to keep pace with these global trends and invest in tools to allow our lawyers to streamline the contract review processes of complex legal matters. Thus, ensuring the highest quality services to our clients.” said Mr Valiūnas.
Luminance is a leading AI platform for lawyers, using the latest advances in machine learning to speed up contract review processes, without sacrificing accuracy. The system sorts, clusters and classifies an entire data room, presenting it in an intuitive visualisation dashboard, giving lawyers immediate insight and prioritising their review. Luminance launched in September 2016 and is currently live in 25 countries.
“We’re delighted to welcome Ellex as the first law firm in the Baltics to adopt our sophisticated machine learning technology,” said Emily Foges, CEO of Luminance. “Expanding into another European region is testament to the language agnostic nature of Luminance, and its ability to transform the due diligence process in any jurisdiction. We look forward to seeing the additional insight and efficiency gains that Luminance can deliver on some of Eastern Europe’s most complex M&A transactions.”
Ellex is a circle of leading Baltic law firms, bringing together over 200 legal professionals in the Baltic States and providing top-quality legal services. Our leading position is evidenced by our recognition in international legal directories such as Chambers Europe, Chambers Global, Legal 500 and IFLR 1000 as well as multiple awards including The Lawyer, IFLR 1000 and Chambers and Partners, among others. Last year, Ellex was the only law firm in the Central and Eastern as well as Northern Europe included in the ratings of innovative law firms published by the Financial Times.
Launched in September 2016 and already in use on five continents, Luminance is an artificial intelligence platform for lawyers which uses machine learning to read and analyse contracts and other documents much like a human does, thus improving the efficiency of processes such as due diligence. Deploying some of the latest breakthroughs in pattern recognition and machine intelligence from the University of Cambridge, and trained by legal experts, Luminance understands and can highlight anomalies among large groups of documents so that lawyers can prioritise their work. The company was recently recognised for Horizontal Innovation by the Institute for Engineering and Technology (IET), and opened an office in Chicago to meeting growing demand from AmLaw 100 firms.