US law firm, Holland & Knight, has today announced it will be working with Luminance to exploit the UK company’s legal AI doc review capability for due diligence, securities and real estate matters, as well as knowledge management.
The Miami (pictured above), Florida-based firm, said that it had undertaken a competitive trial of several legal AI solutions for doc review and had decided to go with Luminance.
The client win of the 1,200-lawyer firm, which has offices across the US and strong links to Latin America, follows the recent wins of Indiana, US, firm Ice Miller, as well as Anglo-Scottish firm, Dickson Minto. The news also follows the opening of Luminance’s first office in the US, in Chicago.
The latest client win further underlines the reality, explored last week, that uptake of AI systems for doc review have moved well beyond the City of London, or Manhattan’s corporate powerhouses. This is presumably because both clients and law firms can see the benefits, and any initial fears over implementation are now rapidly falling away as partners become more familiar with the technology.
Steven Sonberg, Holland & Knight’s Managing Partner, said: ‘We recognise the impact technology is having on the legal profession and are actively implementing solutions that enable our firm to gain a competitive advantage. Ultimately, we believe the changes occurring in the industry present an opportunity for both the firm and our clients.’
‘Deploying…Luminance not only demonstrates our continued commitment to providing first rate legal services to our clients, but our desire to deliver those services using technology-driven, cost effective measures,’ he added.
Josias Dewey, the firm’s Innovation Partner and Chair of its Innovation Committee, commented: ‘We envision deploying [Luminance] for our corporate, securities, and M&A practices, as well as our real estate practice and a variety of other knowledge management functions.’
‘Technologies such as Luminance are the future and we could not be more pleased to announce this deployment,’ he concluded.
Meanwhile, Emily Foges, CEO of the UK legal tech company, pointed out that early adopters of legal AI systems would have an edge over the competition.
‘Luminance continues to learn with transactions, it simply gets better every time it is used, and early adopters, such as Holland & Knight, will recognise benefits setting them apart from later adopters,’ Foges said.
‘Securing a client of the calibre of Holland & Knight is evidence that the opening of Luminance’s first North American headquarters in Chicago last month is paying off,’ she added.