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Top related persons:
Slaughter - 1 Eleanor Lightbody - 1 Lightbody - 1 Jaeger Glucina - 1 that's - 1 we've - 1 Luminance's - 1
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CNBC - 2 U.S - 1 National Grid Partners - 1 National Grid - 1 Koch Industries - 1 Hitachi - 1 Yokogawa - 1 Liberty Mutual - 1

Search resuls for: "Luminance's"


2 mentions found


☆ Mike Lynch-backed legal tech startup Luminance raises $40 million, capitalizing on AI hype
  + stars: | 2024-04-02 | by ( Ryan Browne | ) www.cnbc.com   time to read: +3 min
Mathisworks | Digitalvision Vectors | Getty ImagesLegal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence. The company told CNBC that it raised the fresh capital in a Series B funding round led by U.S. venture fund March Capital. "We had lots of interest from lots of VCs," Eleanor Lightbody, CEO of Luminance, told CNBC in an interview on Tuesday. Lightbody said that businesses are investing in AI tools like Luminance's to keep a competitive edge, as well as to reduce costs. Luminance is one firm of the many generating buzz from investors thanks to the hype swirling around artificial intelligence.
Persons: Slaughter, Eleanor Lightbody, Lightbody Organizations: CNBC, U.S, National Grid Partners, National Grid, Koch Industries, Hitachi, Yokogawa, Liberty Mutual, LG Chem, BBC Studios, University of Cambridge, Companies, Mistral, Microsoft, Amazon, Investors
☆ An AI just negotiated a contract for the first time ever — and no human was involved
  + stars: | 2023-11-07 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
In a world first, artificial intelligence demonstrated the ability to negotiate a contract autonomously with another artificial intelligence without any human involvement. British AI firm Luminance developed an AI system based on its own proprietary large language model (LLM) to automatically analyze and make changes to contracts. LLMs are a type of AI algorithm that can achieve general-purpose language processing and generation. "This is just AI negotiating with AI, right from opening a contract in Word all the way through to negotiating terms and then sending it to DocuSign," she told CNBC in an interview. Clauses were analyzed, changes were made, and the contract was finalized in a matter of minutes.
Persons: Jaeger Glucina, that's, we've, Luminance's Organizations: CNBC Locations: British, Word
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