Contract management · Production

LG Chem reduces contract review time by over 30% with Luminance Legal-Grade AI

The problem

LG Chem's legal team needed to reduce turnaround time for contract reviews while maintaining compliance and consistency, as manual review of standard and complex contracts was routine yet time-consuming.

Workflow diagram · grounded in source
1
Incoming contract triggers review
trigger
“Luminance takes a first pass review of any incoming contract”
2
AI risk flagging
ai_action
“automatically flagging areas of risk that require the team's attention”
3
Clause-by-clause AI summary
ai_action
“The team utilizes Ask Lumi, Luminance's Legal-Grade chatbot, as a partner in the contract review process, turning to the AI to expedite internal communication by taking advantage of the clause-by-clause summary function, which is availab…”
4
Precedent and position lookup
ai_action
“automatically draw from previously agreed contracts, precedents and preferred ways of contracting to achieve the best possible outcome for the business”
5
AI clause drafting
ai_action
“Luminance can also draft or redraft clauses instantly, which can be inserted with a click”
6
Microsoft Word integration
integration
“All of this takes place directly within Microsoft Word”
7
Executive summary for complex contracts
ai_action
“A team member simply asks the chatbot for a summary of the entire contract, and Luminance delivers an executive outline of the key data, allowing them to focus on the most business-critical aspects of the contract faster”
Reported outcome

LG Chem reduced time spent on contract reviews by over 30% per contract, with AI-powered clause summaries, precedent-based drafting, and language-agnostic support in Korean and English available directly in Microsoft Word.

Reported metrics
Time spent on contract reviews>30%
Contract review efficiencyless time reviewing simple, repetitive contracts
Legal team focus on high-value workempowered to focus their time on high-value work
Reported stack
LuminanceAsk LumiMicrosoft Word
Source
https://www.luminance.com/customers/lgchem-driving-company-wide-innovation
Read source ↗

Frequently asked questions

What did this team achieve with this AI workflow?

LG Chem reduced time spent on contract reviews by over 30% per contract, with AI-powered clause summaries, precedent-based drafting, and language-agnostic support in Korean and English available directly in Microsoft…

What tools did this team use?

Luminance, Ask Lumi, Microsoft Word.

What results were reported?

Time spent on contract reviews: >30%; Contract review efficiency: less time reviewing simple, repetitive contracts; Legal team focus on high-value work: empowered to focus their time on high-value work (source-reported, not independently verified).

How is this contract management AI workflow structured?

Incoming contract triggers review → AI risk flagging → Clause-by-clause AI summary → Precedent and position lookup → AI clause drafting → Microsoft Word integration → Executive summary for complex contracts.

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