6 September 2017 – Leading Singapore law firm, WongPartnership LLP takes the lead locally in adopting artificial intelligence (AI) to enhance its due diligence processes for Merger & Acquisition (M&A) transactions. It is part of the firm’s strategy to leverage on technology to optimise legal services for its clients.
2. The firm is partnering with London-based company Luminance to deploy its artificial intelligence technology to support its M&A practice, which is actively engaged in numerous transactions in Singapore (and across ASEAN and the Middle East). The firm, a recipient of the inaugural Financial Times’ Most Innovative ASEAN Law Firm award, was recently named the SE Asia Deal Firm of the Year by Asian Legal Business.
3. The firm selected Luminance due to the system’s intuitive, easy-to-use interface and unique anomaly detection capability. Luminance uses advanced machine learning techniques to automatically sort, cluster and classify a data room, pinpointing even subtle differences between contracts so that hidden risks can be uncovered early on in a transaction. The platform’s ability to detect patterns across large volumes of contracts ensures that lawyers can focus their review on key documents from the outset. Luminance launched in September 2016 and has customers on five continents, having completed more than 150 transactions to date.
4. “Our firm is embracing innovative legal technology to deliver greater efficiency in managing M&A transactions for our clients. Technology is changing the way law is practiced and as such technological innovation must be a cornerstone of our firm’s future growth. We are delighted to partner a company whose AI technology is setting the global market standard.” said Ng Wai King, Managing Partner at WongPartnership. “Luminance’s solution will enhance our lawyers’ ability to conduct due diligence and other contract review processes more effectively and efficiently”.
5. “WongPartnership understands the need for innovation, and we are excited to welcome them as the first Singapore (and Asian) law firm to adopt our technology. We are delighted to be working with a firm that recognises the importance of deploying artificial intelligence in a busy M&A practice.” said Emily Foges, CEO of Luminance.
For more information on WongPartnership, please click here.
For more information on Luminance, please click here.
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