Leading British AI company, Luminance, has been named a top five Lawtech vendor by the prestigious legal directory, Chambers and Partners.
Luminance named Global Leader in LawTech by Chambers and Partners
Chambers and Partners’ inaugural LawTech report was the culmination of seven months of independent analysis of legal tech companies as well as comprehensive interviews with law firms, in-house general counsel and more.
Luminance’s market-leading AI solution is now used by over 300 organisations across 60 countries, including one in five ‘Global Top 100’ law firms and all of the ‘Big Four’ accountancy firms. Growing demand for Luminance’s technology from corporations such as a leading UK supermarket, real estate services company Jones Lang LaSalle and the confectionary manufacturer, Ferrero led to the recent launch of Luminance’s third product, ‘Corporate’, designed to assist in-house lawyers throughout the whole contract lifecycle process, from contract management and drafting to negotiation.
Luminance’s CEO, Eleanor Weaver, comments: “We are delighted to have achieved a Band 1 ranking by Chambers and Partners, one of the most respected analytics research firms in the legal industry. Arriving on the market just five years ago, Luminance’s technology is revolutionising the work of lawyers from over 300 organisations globally, assisting with the whole spectrum of legal projects from due diligence reviews to contract negotiations investigations.”
Simon Christian, an editor at Chambers and Partners adds, “Legal technology is a hot topic for the firms that feature in the Chambers rankings guides and the in-house counsel who make up our key audience. Chambers LawTech is our inaugural guide to the market-leading technology providers to the worldwide legal industry and brings the independence and rigorous research that Chambers is known for to this exciting new area.”
Luminance uses machine learning techniques to read and form an understanding of legal data, instantly surfacing key datapoints, risks and anomalies, becoming increasingly sophisticated with continued use. In recognition of its technology, Luminance was named a ‘Future Fifty’ company by Tech Nation and a ‘Technology Pioneer’ by the World Economic Forum.
About Chambers and Partners
Chambers and Partners is an independent research company operating across 200 jurisdictions delivering detailed rankings and insight into the world's leading lawyers. Chambers empowers organisations to make informed decisions when selecting legal services, saving time and resources and reducing risk.
Chambers' 200 Research Analysts provide unique insight into complex areas of law in different jurisdictions. Chambers conducts tens of thousands of interviews a year with in-house counsel and third-party experts, such as barristers and accountants, delivering detailed insight into providers of legal services.
The Chambers LawTech Guide is the first report by Chambers on the rapidly-moving legal technology sector, and is a snapshot of the leading technology developers and vendors, as well as the foremost Incubators & Accelerators and LawTech Consultants.
Luminance is the leading artificial intelligence platform for the legal profession. The fundamental technology behind Luminance is the Legal Inference Transformation Engine (LITE), built from a blend of unsupervised and supervised machine learning and pattern recognition techniques developed at the University of Cambridge. Luminance has over 300 customers across the world, including one-fifth of the global 100 law firms all of the Big Four Accountancy firms.