Leading Australian law firm Gilbert + Tobin has adopted Luminance’s artificial intelligence technology to enhance its due diligence processes for M&A transactions. This is another major win for Luminance, the fast-growing AI platform that already counts the UK’s Slaughter and May and Spain’s Uría Menéndez as clients.
Gilbert + Tobin, recently named the most innovative law firm in the Asia-Pacific region, will benefit from the technology’s language-agnostic ability to understand the contents of a data room much faster than humans can, freeing up its expert lawyers to spend more time on evaluation. Lawyers will be able to advise their clients on potential risks that might never surface in standard data room reviews, which necessarily rely on sampling documentation.
“Gilbert + Tobin is committed to embracing innovative technologies that enhance our ability to meet client needs in a cost-efficient manner,” said Sam Nickless, COO and Partner at Gilbert + Tobin. “We are excited to be using Luminance, a best of breed AI technology. Amongst other potential applications, Luminance will become a part of our M&A due diligence process, providing rapid insights into documentation that historically took days or weeks to uncover.”
“Gilbert + Tobin is known for its innovative spirit and we are excited to welcome the firm as our first Australian client. Luminance’s machine learning technology will assist their lawyers in working on many of Australia’s largest and most complex M&A deals.” said Emily Foges, CEO of Luminance.
Luminance launched in September 2016 and has customers in 12 countries, having completed more than 120 transactions to date. The company was recently awarded ‘Best AI Product in Legal’ at the AI Innovation Annual Awards.
About Gilbert + Tobin
Gilbert + Tobin is a leading independent corporate law firm and a key player in the Australian legal market. From its Sydney, Melbourne and Perth offices, the firm provides innovative, relevant and commercial legal solutions to major corporate and government clients across Australia and internationally, particularly in the Asia-Pacific region. Established in 1988, Gilbert + Tobin employs more than 500 professionals.