The British company Luminance has achieved a significant innovation in the legal field. It is an artificial intelligence system capable of negotiating contracts autonomously. This development represents a radical change in the way legal contracts are handled, offering another perspective on the use of AI in traditionally human professional fields.
The technology of this company born in the 2016, based on an advanced language model, promises to simplify and speed up the negotiation process, and raises new questions about the future of legal work and the interaction between artificial intelligence and professionals.
The role of AI in the legal sector
Luminance's AI, which uses a proprietary language model, is designed to analyze, edit and finalize contracts with unprecedented efficiency and accuracy. This tool is much more advanced than a simple chatbot. It can handle contract negotiations autonomously, freeing lawyers from repetitive tasks and allowing them to focus on more creative and strategic aspects of their work.
Jaeger Glucine, head of Luminance, underlined how this new AI aims to eliminate much of the paper work typical of lawyers. He doesn't beat around the bush.
Luminance's Autopilot handles day-to-day negotiations, freeing lawyers to use their creativity where it matters most, without being burdened by this type of work.
Do we have "smart" contracts?
During a demonstration at Luminance's London offices, AI surprised technicians and professionals. She was perfectly capable of analyzing clauses, making changes and finalizing a contract in minutes.
The use of such advanced AI in the legal sector obviously raises important ethical and professional questions. On the one hand, there is the potential for greater efficiency and precision. On the other hand, concerns arise regarding the use and role of human lawyers. Not to mention the fact that trust in the decisions made by an AI system and the transparency of its decision-making processes are crucial aspects to consider.
What happens now
The impact of AI on the legal sector (as on others) will likely be deep and long-lasting. The ability to manage complex negotiations and contracts independently could not only change the way lawyers work, but also how clients themselves interact with legal services.
This could lead to a democratization of access to legal services, making them more accessible and affordable for a wider audience. With what side effects? What do you think?