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Artificial Intelligence

Large Language Models Are Coming For The Law

April 4, 2024
x min read
Large Language Models Are Coming For The Law

Artificial intelligence might have found the next big opportunity for disruption: the law.

What’s happening:

  • United Kingdom based artificial intelligence startup Luminance has raised $40M USD in a new Series B financing round
  • The round was led by venture capital fund March Capital

The big idea:

  • Luminance has purpose built a large language model to usher in the capabilities of artificial intelligence into legal matters
  • Luminance is capable of rapidly scanning documents to find non-standard clauses, non-compliance or potential legal concerns
  • The artificial intelligence models developed by Luminance are also capable of assisting in ongoing negotiations and reviewing evidence in legal cases

By the numbers:

  • Luminance is currently being used by over 600 different companies in more than 70 countries globally
  • The artificial intelligence models that Luminance has built have already been exposed to and trained on more than 150 million individual legal documents

Going deeper:

  • Many notable companies are currently using Luminance’s artificial intelligence software, including Koch Industries, Liberty Mutual, LG Chem and others

The intrigue:

  • One of the largest law firms in the United Kingdom Slaughter and May also participated in the latest financing round for Luminance

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