In a world first, artificial intelligence (AI) has demonstrated the ability to autonomously negotiate a contract with another AI, without any human involvement.
The feat was accomplished by British AI firm, Luminance, which developed an AI system based on its proprietary large language model (LLM) to automatically analyse and make changes to contracts.
Luminance's new AI, Autopilot, aims to eliminate much of the paperwork that lawyers typically need to complete on a daily basis. The AI handles day-to-day negotiations, freeing up lawyers to use their creativity where it counts. The AI is not only legally trained but also understands your business, making it a valuable asset in contract negotiations.
Autopilot is a significant upgrade from Lumi, Luminance's ChatGPT-like chatbot. While Lumi allows lawyers to query and review parts of a contract, Autopilot can operate independently of a human being. However, humans can still review every step of the process, and the software keeps a log of all the changes made by the AI.
In a demonstration at Luminance’s London offices, the AI negotiators went back and forth on a non-disclosure agreement (NDA). The AI highlighted contentious clauses in red, changed them to something more suitable, and kept a log of changes made throughout the process.
According to Jaeger Glucina, chief of staff and managing director of Luminance, legal teams spend around 80% of their time reviewing and negotiating routine documents. By automating this process, Luminance's AI can significantly increase efficiency and reduce hold-ups in business dealings.
Founded in 2016 by mathematicians from the University of Cambridge, Luminance provides legal document analysis software intended to help lawyers become more efficient. The company uses an AI and machine-learning-based platform to process large, complex, and fragmented data sets of legal documentation.
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