Mike Lynch’s Invoke Capital Aims to Replace M&A Lawyers With Robots
London-based venture firm Invoke Capital is betting that a startup using artificial intelligence to process legal documents and automate due diligence in mergers and acquisitions can replace the armies of lawyers needed to close billion-dollar deals, reports Bloomberg Law.
On its website, Luminance says its product “pairs the computing power of artificial intelligence with human training and experience. Luminance can process large, complex and fragmented data sets within an hour, and presents the entirety of the data room in an intuitive visualiser.”
Reporter Jeremy Kahn writes that CEO Emily Foges said in a statement that “the software can highlight important information without needing to be told what specifically to look for, according to Foges. Rather than employing attorneys to scan through thousands of documents to identify possible issues, these lawyers can now devote their time to analyzing the software’s findings and negotiating deal terms, Foges said.”
“Luminance has been trained to think like a lawyer,” Foges said in a statement.
