• Press release: “Luminance announces that it has signed an agreement with US law firm Ice Miller LLP to deploy its artificial intelligence technology to streamline the firm’s due diligence processes for M&A transactions. The agreement closely follows the opening of Luminance’s first US headquarters in Chicago, and demonstrates the continued momentum it has in the country.”

 

  • Apple seems to be stepping up its investments in AI-related companies; in the past few days, facial recognition company Finisar and song-recognition app Shazam have been acquired. The $390 million Finsar investment comes from Apple’s $1 billion Advanced Manufacturing Fund, created to finance the work of domestic manufacturers and create jobs in the U.S. Apple announced the creation of the fund in May and plowed $200 million into Corning Inc., the maker of the Gorilla Glass that is used in Apple’s touchscreens.

 

  • Microsoft is also stepping up its AI focus with investments in Bing’s ability to block fake news, other Bing, Cortana and Office 365 updates and a new partnership with Reddit. It has also improvedSeeing AI,”(t)he smartphone app uses artificial intelligence to describe to the user what the rear-facing camera is pointing at, essentially doing real-time audio descriptions of the world, allowing those with limited vision to ‘see’ what their camera sees.”

 

  • Many executives are reluctant to invest in AI. This post reviews some of their major barriers, most of which seem to ring true for law firm leaders.