Nordic law firm to use artificial intelligence technology to improve efficiency 

Roschier has started deploying pioneering artificial intelligence technology, Luminance, to improve the efficiency of its due diligence process, initially for M&A transactions.

Luminance uses machine learning and advanced mathematical techniques to speed up contract review processes without sacrificing accuracy. The London-based start-up launched in September 2016 and is already working with a number of other major European law firms.

“We see many benefits arising from the use of artificial intelligence in our business, one of them being efficiency in document review, for example in M&A transactions,” said Tero Jormanainen, the Roschier partner who is overseeing the project. “It also increases the relevance of the lawyers’ work by reducing the quantity of administrative work. We see ourselves as a forerunner in many areas and introducing AI-based solutions is a natural step in developing our services. Going forward, the aim is of course to demonstrate direct benefits to our clients as well.”

Roschier is currently piloting the technology, alongside its customary working process, in a project involving a team that spans the Helsinki and Stockholm offices. The firm expects to expand its use to litigation and evidence due diligence projects in the near future.

“We are excited to be working with another leading Nordic law firm, and look forward to assisting Roschier in rolling out Luminance to litigation and evidence due diligence projects in the very near future,” said Emily Foges, Luminance’s CEO.

Source: ROSCHIER

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