- From Bloomberg Law: “Securitization specialists at law firms including Morgan, Lewis & Bockius LLP and DLA Piper say the first blockchain-based transactions could come as early as this year. “There’s a lot of hype about blockchain, but I am working on actual deals right now,” said Matthew Duncan, a partner and head of Morgan, Lewis & Bockius’s London-based securitization practice, who expects to see the first blockchain securitization by mid-2019. “Securitization will change fundamentally.””
- And here’s more about blockchain from Artificial Lawyer: Smart Contract Group, Accord Project, Links with R3’s Corda Blockchain.
- From Daniel Gutmann of CMS Francis Lefebvre Avocats: Artificial intelligence and robotics: from a labour and tax perspective.
“Robots have stimulated the imagination of human beings for several thousand years: artificial servants and companions seem to be present as far back as in the ancient Greek myths. To a great extent, these myths are now becoming reality, with the effect that fundamental concepts of law must be revisited in light of recent and rapid technological developments. It remains to be seen how quickly law will follow technology… and to what extent lawyers themselves will be replaced by robots.”
- Press release: Cooley Partner Named to Inaugural European Commission Expert Group on Liability and New Technologies.
- Here’s an interesting post about the growth of legal tech (including AI) in Hong Kong. Hong Kong Legal Tech Market is Booming.
Since today is a bit light on legal AI news, here’s some info to catch you up on AI in the rest of the world:
- From Finextra: “AiX, the artificial intelligence broker, announces today that it has completed the first ever trade brokered by an AI powered chatbot. The trade is the first of its kind to use AI technology instead of the traditional human brokerage model, completing a successful cryptocurrency transaction between Rockwell Capital Management and TLDR Capital.”
- The international AI race: from the Financial Times: “In the race to master artificial intelligence, Europe is a clear laggard. The US and China dominate AI in everything from research to investment. Whereas Europe spent about $3bn-$4bn on AI in 2016, investment in North America was up to $23bn, according to McKinsey Global Institute.”
- For more than a year I have been writing about the tens of thousands of news stories being composed by AI. During that time they have become more sophisticated. Here‘s a bit of an update. (This is about “artificial” but not “fake” news.)
- It’s not just law firms that struggle to achieve greater diversity. Google Employees and Investors Joined Forces to Demand More Diversity. Why Even That Novel Approach Failed. Even the employees that caused Google to drop a major government/defense contract couldn’t clear the diversity hurtle. This story has been widely covered. Here’s the post from Fortune.
“Google founders Larry Page and Sergey Brin may hold supervoting rights, making these proposals untenable in practice, but they can’t stop this dirty laundry being aired in public—particularly when employees and shareholders join forces. At some point, something has to give. And not just a “more inclusive vegan salad” emoji.”
- I guess if we’re going to really understand how dark/malevolent AI can go, we need to take it there and examine the result. So, MIT scientists create world’s first ‘psychopath’ AI and it’s really spooky. Creepy details here.
- Speaking of creepy, it’s pretty horrifying to imagine the old white guys in our Congress, mainly Luddites, writing the laws that will govern our AI and other tech. Consider this post from the Washington Post. ‘I can understand about 50 percent of the things you say’: How Congress is struggling to get smart on tech. “(P)olicymakers themselves admit they aren’t fully prepared to deal with the issues.”