The company's 'bias calculator' helps clients test their AI systems for fairness and bias
Luminos.AI, a new software company focused on addressing the legal risks of artificial intelligence (AI), has officially launched, Reuters reported.
The company was spun off from Luminos.Law, a Washington, D.C.-based law firm that has combined legal expertise and data science to assist companies in managing AI and analytics risks for the past five years.
The move to establish Luminos.AI as a separate entity comes as the demand for specialized tools to navigate the complex legal landscape surrounding AI grows. As AI technology proliferates, businesses face increasing litigation and regulatory scrutiny in areas such as copyright, employment discrimination, and privacy.
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Andrew Burt, co-founder and managing partner at Luminos.Law, explained that spinning off allowed them to expand their technology offerings on an enterprise level. Burt said that the transition was essential for the company to scale its solutions, requiring a dedicated software development team and external investment that is not permissible under professional rules governing law firms.
Luminos.AI introduces several innovative products, including a "bias calculator" that helps companies test their AI systems for fairness and bias and an automated tool that generates compliance documentation for AI models. These tools prepare companies for real-world legal challenges, from private lawsuits to scrutiny by regulators such as the U.S. Federal Trade Commission and state attorneys general.
Mike Schiller, co-founder of Luminos.AI and former leader at data security firm Immuta, has taken the helm as CEO of the new venture.
The company successfully raised US$1.7 million last year, led by Bloomberg Beta, and is currently in the midst of a second round of funding, which it expects to close shortly.
According to Reuters, this spin-off is part of a broader trend where law firms separate their in-house technology developments into independent entities. Notable precedents include Orrick, Herrington & Sutcliffe's spin-off of Joinder in 2021, and Keesal, Young & Logan's establishment of KP Labs in 2018.
