Groundbreaking: AI Autopilot Contracts with AI Without Human Intervention
At the London headquarters of Luminance, the company showcased its AI named "Autopilot," which concluded a non-disclosure agreement in a matter of minutes. This marks the first instance globally where artificial intelligence has demonstrated the capability to independently negotiate contracts with other artificial intelligence entities, as reported by CNBC.
"Just artificial intelligence engaging in negotiations with artificial intelligence, starting from opening the contract in Word and concluding with agreement on terms and sending it through the DocuSign web service," stated Luminance's Managing Director, Jaeger Glucina.
She added that Autopilot "conducts everyday negotiations, freeing up lawyers to utilize their creative potential."
The British company Luminance developed its AI system for contract analysis and modification based on its proprietary Large Language Model (LLM). LLM is a type of artificial intelligence algorithm capable of processing and generating natural language text for general purposes.
This tool, designed by Luminance to function more like a legal "co-pilot," enables lawyers to query and review contract sections to identify any red flags and problematic clauses.
The Autopilot feature of Luminance is significantly more advanced than Lumi, the Luminance chatbot, which is similar to ChatGPT. With Autopilot, the software can operate independently of humans, though humans can still review every step of the process, and the software maintains a log of all changes made by artificial intelligence.
Founded in 2016 by mathematicians from the University of Cambridge, Luminance provides software for legal document analysis to help lawyers become more efficient. The company leverages artificial intelligence and machine learning-based platforms to process large, complex, and fragmented legal document datasets, allowing managers to easily assign tasks and track progress across their entire legal team.
It's worth noting that the European Union, the United Kingdom, the United States, and China recently signed a declaration acknowledging the "catastrophic" risk of AI to humanity.
Prior to this, U.S. President Joe Biden issued the first-ever directive in America regarding the development and regulation of artificial intelligence.