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. Jaeger Glucina, chief of staff and managing director of Luminance, said the company’s new AI aimed to eliminate much of the paperwork that lawyers typically need to complete on a day-to-day basis. In Glucina’s own words, Autopilot “handles the day-to-day negotiations, freeing up lawyers to use their creativity where it counts, and not be bogged down in this type of work.” “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. “This is all now handled by the AI, that’s not only legally trained, which we’ve talked about being very important, but also understands your business.” Luminance’s Autopilot feature is much more advanced than Lumi, Luminance’s ChatGPT-like chatbot. That tool, which Luminance says is designed to act more like a legal “co-pilot,” lets lawyers query and review parts of a contract to identify any red flags and clauses that may be problematic.
Full story : An AI just negotiated a contract for the first time ever — and no human was involved.
