Source: Luminance

Luminance, the provider of Legal-Grade™ AI, announced the launch of ‘Lumi Go’. This world-first technological development allows Luminance customers to transform the way they negotiate contracts such as Non-Disclosure Agreements or Master Service Agreements, providing them with the ability to send draft agreements to a counterparty and have Luminance auto-negotiate on their behalf.

Lumi Go represents the first time that AI is automatically being made available to both parties during the negotiation of contracts. Luminance’s latest advancement saves companies vast amounts of time by significantly reducing back-and-forth communication, avoiding repetitive redlines on the same clauses, and accelerating time to signature for all parties involved.

“Lumi Go represents more than just a boost in productivity for routine contract negotiations; it offers a glimpse into the future of legal practice as AI continues to become more pervasive,” said Eleanor Lightbody, CEO of Luminance. “This world-first development represents a move towards seamless, interconnected systems that benefit all parties involved. It’s this network effect that will transform contract negotiations globally.”

Michelle Freno, Sr. Director Legal, EMEA, at customer firm, Proofpoint, added: “Lumi Go will help businesses build stronger relationships with their customers and suppliers by enabling streamlined negotiations with significantly less back-and-forth. By accelerating the negotiation of low-value, high volume contracts, businesses can focus on the high-value, complex work that requires their attention.”