Summary:
The article discusses the growing adoption of AI in businesses and the associated legal and regulatory challenges, highlighting the EU’s AI Act and the need for compliance.
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Original Article:
AI has dominated the technology conversation recently. Although like many other industries, we are working on gen AI solutions within our own business, we are not strangers to the power of AI. We have worked on a number of AI related innovation projects over the years, deploying AI solutions across a variety of ways.
Our global AI group can help you navigate the legal, regulatory and compliance issues related to artificial intelligence, allowing you to leverage AI’s potential.
Eversheds Sutherland has surveyed 700 senior executives worldwide. This includes both tech suppliers and customers, to investigate the adoption of digital technologies and how they manage the related legal, ethical, ESG and other corporate digital responsibilities.
We found that in the next three years, 47% of companies planned to use artificial intelligence (AI) technology, compared with 32% in 2022. With the advent of generative AI, that trend will continue at pace as evidenced by recent M&A activity and joint ventures.
Embracing AI as a business
AI has the ability to transform business. Deployed appropriately, AI can give companies a competitive advantage by helping them better understand and engage with customers, improve efficiency and decision making, reduce costs, enhance security and accuracy, and drive innovation. However, as much as there are significant opportunities, there are also risks, which can include bias and discrimination, confidentiality and intellectual property issues, privacy concerns and the possibility of “hallucinations” (incorrect outputs) through generative AI.
As machine learning, natural language processing and generative AI become commonplace, governing bodies, regulatory authorities and lawmakers around the globe are introducing new laws and enforcing existing ones to protect businesses and individuals from AI’s potential harms – including the EU’s AI Act and the White House blueprint for an AI Bill of Rights.
Private litigants are gearing up as well, with class actions filed alleging privacy violations, intellectual property infringement, illegal wiretapping, unfair competition and a slew of other complaints against companies deploying large language models. We continuously scan the horizon to help you stay abreast of evolving legislation and guidance in real time to help you ensure your use and deployment of AI systems is legally compliant.
Global AI lawyers to support your business
Our AI group comprises global multi-disciplinary lawyers and professionals in technology, who can support you with legal, regulatory and compliance advice as well as technical and operational guidance, in order for you to maximize the benefits of AI. We focus on the following areas:
Advising on the changing legal, regulatory and compliance landscape
Helping you identify the legal impacts and recommended impacts in relation to AI regulations, data protection and sector-specific regulations, IP strategy and product liability, customer and supplier arrangements, employment concerns, dispute resolution, and transactional support.
Supporting your in-house legal team’s digital transformation journey
Konexo partners with in-house legal teams to digitally transform legal functions. We:
assess your current processes and build a roadmap to integrate AI solutions into your business processes
recommend AI technologies that can support your use cases and improve efficiency
implement solutions and train your users to maximise adoption
advise on best practices to govern, track, and continuously enhance your AI tools for maximum impact