• If your firm does business in Europe and in any way uses data about individuals, you must get ready for the European General Data Protection Regulation (GDPR), which will take effect in May 2018. As AI is completely dependent on data, this will directly impact any sort of AI systems relying on personal data you have planned for use in the EU. This may even impact models you have already developed.

 

  • Jeff Pfeifer of LexisNexis has provided a high level summary of where the legal industry stands re use of AI and the specific sorts of tools being employed. This piece is not as much as a projection into the future as a summary of what lawyers could, nay should, be doing today to work better, faster and cheaper. Though very positive about the utility of AI in legal, Mr. Pfeifer comes down in the camp that holds that in the future AI will free attorneys to do more high value/interesting work, but not completely replace them.

 

  • Norton Rose Fulbright‘s Troy Ungerman has posted his thoughts about using AI to identify M&A targets. He mentions tools by Kira and Aingel specifically.

 

  • This story from The Indiana Lawyer presents the thoughts of lawyers from several smaller law firms regarding AI, what it might mean for their clients and their practices. Bottom line, “AI is more of a benefit than a threat because it allows legal professionals to use their minds and training for the creative work that comes with being an attorney.”

 

  • And this from Detroit’s Macomb County Legal News does a solid job detailing where in-house counsel are, and are headed, using tools like IBM Watson Legal and Thomson Reuters’ Legal Tracker (formerly Serengeti) to reduce outside legal spend.

 

  • This is a very useful piece about the use of AI (a.k.a., “cognitive technology”) in all sorts of risk management. In summary, AI will be essential if one is to compete in the future. If you have been a regular reader of this blog you’re used to my mantra that “it’s all about the data.” So, I very much agree with:

“Successful digital strategies are built on data. The competence you build around data management will determine how successful your digital strategy is. Odds are, however, that managing data ‘the way you always have’ won’t cut it.”

 

  • I have posted several times about various governments getting solidly behind their countries’ AI initiatives (not the USA), It seems S. Korea (arguably the world’s most automated country) may be heading at least a bit in the opposite direction as they consider a change to their tax code that would provide less support for companies investing in automated machinery. “Though it is not about a direct tax on robots, it can be interpreted as a similar kind of policy considering that both involve the same issue of industrial automation,” an industry source told news outlet The Korea Times.

 

  • Moving AI from the theories of the 1950s to today’s rapid pace has required three fundamental advances: more sophisticated algorithms, more data and much more processing power. It looks like IBM has just taken another big step forward regarding the third area, processing speed.

 

  • This piece from Toby Walsh, Scientia Professor of AI at the University of New South Wales (cool title!) may start you thinking. He draws a compelling parallel between the rise of AI and the industrial revolution, and suggests that this will require substantial new regulation, and soon.