• I have mentioned several times that AI technology is out pacing regulation. EU data protection laws are a prime example The problem is getting more and more coverage, especially regarding patient medical records. (E.g., “the private health records of 1.6 million NHS patients are still on the DeepMind servers.”)

Wilson Sonsini has more thoughts about the regulations to be considered re AI, particularly regarding investing.

 

  • There are many parallels between AI’s current and potential impacts on legal services and accounting services. (Regulation trailing technology is a prime example.) This article illustrates several of the issues from the accounting perspective.

“(AI) will require new roles and skills, and there will be institutional adjustments necessarily from regulators and standards setters.”

“The message is: AI, like any other technology, can help add value, and will create opportunities. But finance professionals need to be agile and flexible to harness this potential.”

Here’s another related (but more superficial) piece on the accountancy angle.

  • This article has some interesting thoughts about the uses of Artificial Intelligence-based facial recognition in legal matters, including setting bail, sentencing, parole and probation. Serious issues of discrimination are discussed.
  • Media organizations like Reuters and ESPN have been using AI to write millions (literally) of stories for quite some time. Google is dumping a lot more cash (almost $1 billion) into such technologies. I wonder what reporting will look like in five years.

Back in 2014, “(A) study at Karlstads University determined that people are not able to tell the difference between content written by journalists and those generated by software.”

Much more on “Artificial Intelligence and Content Marketing in 2017” in this article.

And here’s more about Google’s Digital News Initiative and the U.K.-based Press Association building a service called “RADAR” (“Reporters And Data And Robots”) which will use reporters and open data sets to write up to 30,000 news stories a month beginning in 2018.

  • In this article, Ken Grady correctly argues that one should not be in search of a way for your firm to use AI. Rather, when considering your specific strategic challenges, you might ask whether there’s a way AI could help with a solution. He further argues that unless you bring to bear some of the unique data, held only by your firm, you are unlikely to achieve substantial competitive advantage. Good read.
  • Legal Technology Companies Find a Voice in Amazon Alexa.” This is exciting/encouraging:

“Alexa integrations in legal technology blossomed as many novel products do—on the back of client interest and the promise of new work efficiencies. ThinkSmart, which provides workflow automation solutions for tasks like contract drafting, was motivated to explore such an integration by members of the Corporate Legal Operations Consortium (CLOC) group, some of whom were already customers, said Dillon Knowlton, product manager at ThinkSmart.”

“After conversations with CLOC members, ThinkSmart soon began building a prototype Alexa integration into its workflow automation platform which, in addition to allowing data input and voice search, also includes the ability create workflows based on voice commands. Around the same time, CLOC members also approached knowledge management solution provider Onna, who likewise started developing an Alexa integration that allows users to input data and query databases through voice commands.”

But the article also presents several reasons for caution. This will take a while to mature.