Artificial Intelligence in position


Art-Official Webber Wentzel and Luminance partnership

The fast-growing Artificial Intelligence platform, has been adopted by the leading South African law firm, Webber Wentzel, to enhance its due diligence processes for M&A transactions. This agreement marks another major achievement for the AI platform.

The firm, who recently dominated the 17th Annual Dealmakers Awards, winning M&A, Africa as well as BEE Legal Adviser of the Year 2017 chose to deploy Luminance due to its ability to effortlessly aid the work of its legal teams. Webber Wentzel particularly values the platform’s built-in collaboration tools which will allow its lawyers to quickly group and assign documents, track live progress, and significantly reduce the amount of time spent organizing workflow.

Legal Project Manager at Webber Wentzel’s Legal Services Centre, Celia Pienaar says the firm has been using a number of innovative technology solutions to continuously improve efficiencies and add value when they deliver their legal services to their clients. “Its unique visualise dashboard provides an immediate, holistic understanding of the data room content.  We’re excited to deploy Luminance across the firm and work with our clients to further enhance the top-tier service they have come to expect of our brand” she adds.

Luminance’s CEO, Emily Foges, says they are thrilled to have Webber Wentzel on board and adopting their language agnostic technology. She also explained how Luminance provides legal teams with an instant, unparalleled insight into the data room, and for a firm that understands the innovative legal sector, they are delighted that their platform will assist Webber Wentzel’s lawyers on many of South Africa’s largest and most complex transactions.

“Our investment in Luminance comes at a time when Webber Wentzel is celebrating 150 years in business.  This investment is just another example of the constant innovation that has been at the heart of the firm’s success,” says Sally Hutton, Managing Partner at Webber Wentzel.

Luminance uses advanced machine learning techniques from the University of Cambridge to automatically sort, cluster and classify a data room, pinpointing even subtle differences between contracts so that hidden risks can be uncovered early on in a transaction.

This article was posted in MyPressPortal

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