- Bech-Bruun News
- 31 August 2017
Bech-Bruun deploys artificial intelligence technology for M&A
As the first Danish law firm, Bech-Bruun has adopted the award-winning artificial intelligence technology, Luminance. This technology is firstly implemented within the M&A practice area to enhance its due diligence processes for M&A transactions.
Luminance is an artificial intelligence technology exploiting the most recent progress within artificial intelligence technology developed at the University of Cambridge to automatically sort, group and classify large volumes of legal documents. The system enables a faster and more efficient review of contracts at a high level.
Bech-Bruun will benefit from the new technology's ability to understand documents in any language much faster than humans can, freeing up its expert lawyers to spend more time on evaluation and client relations. Bech-Bruun will be able to advise their clients much better and more efficiently.
"In using Luminance to examine documents in both Danish and English, we have found the technology makes our current processes even more efficient, eliminating large amounts of administrative work and ensuring we can focus on key documents faster. Luminance is already assisting us with the high volumes of M&A we conduct, and we look forward to rolling the system out to wider use across the firm," says Christian Ejvin Andersen, managing director of Bech-Bruun.
Luminance was launched in 2016 and has, in cooperation with undertakings in several countries, completed more than 150 transactions to date. Luminance is looking forward to cooperating with Bech-Bruun as its first Danish client.
"Bech-Bruun is well-known as a modern, international firm with a technological focus, and we are excited to welcome them as a client. Our successful deployment in another European country underlines the benefits Luminance can bring to law firms working in any language," says Emily Foges, CEO of Luminance.
Luminance was recently awarded ‘Best AI Product in Legal’ at the AI Innovation Annual Awards.
Click here for more information on our cooperation with Luminance.