The possibilities and perils of legal sector AI adoption – Eleanor Lightbody, CEO, Luminance
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Show Notes
Eleanor Lightbody, CEO of Luminance, discusses the risks of businesses using ChatGPT, the importance of using the right AI model for the task at hand, and the need for flexible AI regulation that caters to different sectors.
Founded by AI experts from the University of Cambridge in 2015, Luminance is an AI platform for lawyers. Built on a proprietary legal large language model, its AI reads and forms a conceptual understanding of legal documents in any language. From this, it enhances and expedites different tasks such as taking a first-pass review of any incoming contract to automatically flagging contractual anomalies. Lightbody joined the firm in 2021 after a six-year period at cyber-AI company, Darktrace. Luminance secured $40m in Series B funding in April 2024, with its backers including Californian investor March Capital, National Grid Partners and Slaughter and May. Luminance says its technology is used by 600 organisations across 70 countries.