Artificial Intelligence brings immense opportunities and challenges for business. AI produces its most actionable intelligence by consuming information about individuals. This creates a core conflict that affects compliance, risk management and privacy and presents novel ethical issues. AI is almost certain to become central to the survival of most businesses. It can also create existential threats to businesses if not properly and thoughtfully implemented.
Our AI and Data Privacy Group focuses on both the implementation of AI, including technology licensing and transfer and investment, and on compliance requirements, including procedures and safeguards to comply with privacy laws.
We keep abreast of developments in this fast-moving area of law, including development of ethical guidelines at the level of the EU, OECD, G7 and many country-level initiatives. Importantly, we also advise and represent startups in providing AI-based solutions as part of our corporate practice. We counsel financial institutions and broker-dealers on critical compliance issues related to AI implementation, training and data-source tracking and maintenance. We also help clients with algorithm issues to avoid potentially impermissible discrimination against individuals and classes. We are frequently engaged by fintech emerging companies to meet their legal obligations, raise money and sell products and services.