- I’ve been predicting for a while that law firms will begin using tools like Automated Insights (WordSmith) and Narrative Science (Quill) to draft client alerts and other market-facing material. WordSmith already generates more than 1.5 billion pieces of content per year for clients including Microsoft, The Associated Press, Cisco, Yahoo, and PwC. Now comes Primer. According to this piece from Fortune, Primer “uses artificial intelligence algorithms to parse vast quantities of data and spit out pithy, navigable digests.” Read at least the first five paragraphs of the linked article. And check out their website. (Oh, and there’s legal work here as Primer “raised $14.7 million in two previously undisclosed rounds of venture capital funding.”)
- Speaking of AI deals and funding, “Shift Technology, a Paris, France-based software-as-a-service platform that uses advances in artificial intelligence (AI) to enable insurers to detect fraud, raised $28m in Series B funding. And, “business adviser BDO found M&A activity among AI and Energy companies rose 50 per cent over the past 12 months, with an average reported deal value jumping from $500m to $3.5bn” as “in these uncertain times, energy businesses adapt their strategy and look to artificial intelligence and big data to improve energy forecasts.”
- Here, Osborne Clarke’s John Buyers weighs in on “Artificial Intelligence: The Real Legal Issues.” He provides a good overview of AI and then weighs in on the legal issues (e.g., assignment of fault, data privacy and contractual liability). The piece is extensively footnoted.
- Hogan Lovells:
The Italian government passed a new law to “…protect new corporate treasures.” “…Improving the transparency of Italy’s regulated markets and extending the Italian government’s “golden powers.” Under the new rules, investors acquiring significant stakes in listed companies must reveal to the market more information, including strategic plans such as their intentions regarding board representation and whether they plan to acquire further shares in the future. In addition, the golden powers procedure, under which transactions in certain strategic sectors must be notified, in advance of completion, to the Italian Government which may veto the deal or impose conditions before allowing them to proceed….” “Critical technology includ(es) artificial intelligence, robots, semiconductors, dual use technology and network security and space and nuclear technology.”
- In this post, Joel Ramsey, Tory’s partner, urges Canadian legislators and regulators to “act to get ahead of (technology), anticipating what structures must be in place to ensure we are able to take advantage of the opportunities AI affords while minimizing the risks. To ‘move fast and break things’ may work in cyberspace, but not on Canadian streets.”
- Scotland’s Herald cites a PwC study with, “law firms must grasp the technology nettle to stay relevant,” and “technology is set to revolutionise the way legal services are delivered, meaning law firms are going to have to make a choice between focusing solely on premium work or embracing new business models.” The solid story includes interviews with law firm leaders from Ashurst and Pinsent Masons, among others, who “are at the forefront of the technological advance.”
- Since today’s post is largely focused on regulation of AI, here’s a good thought piece on the subject.