Spanish lawyers appear to be warming to the use of legal AI systems for document review as another law firm, in this case, Araoz & Rueda, has chosen UK-based Luminance for the automation of its M&A due diligence work.
Luminance has now bagged several leading Spanish law firms as clients, including Uria Menendez and Perez-Llorca. Spain has a nascent legal tech scene with a growing number of lawyers and legal experts highly interested in AI; and this looks set to grow rapidly in 2018.
The move also suggests that as with other markets, although early adopters are often firms of the size of Uria, which is one of the largest law firms in Spain, soon enough the rest of the leading firms also adopt AI as well.
It is also worth noting that Luminance is providing a Spanish natural language processing capability, which no doubt has been a significant factor in the company’s success here.
Madrid-based (pictured above) Araoz & Rueda said that the AI platform removes the burden of low-level cognitive tasks so lawyers can focus on delivering ‘both the highest quality and best value results to their clients’.
Pedro Rueda, partner and head of Araoz & Rueda’s M&A team, said in a statement released at the end of last year: ‘Luminance will help us maintain the high standards our clients expect in corporate and commercial transactions. By saving time in the due diligence review, we can focus on quality and service.’
Rueda concluded: ‘We particularly like how quickly the technology adapted to the Spanish language, picking up unusual clauses and contracts without any instruction.’