• “Seven members of the US Congress have sent letters to the Federal Trade CommissionFederal Bureau of Investigation, and Equal Employment Opportunity Commission asking whether the agencies have vetted the potential biases of artificial intelligence algorithms being used for commerce, surveillance, and hiring.” “We are concerned by the mounting evidence that these technologies can perpetuate gender, racial, age, and other biases,” a letter to the FTC says. “As a result, their use may violate civil rights laws and could be unfair and deceptive.” More here.

 

  • Last Friday, Rep. Tom Emmer (R-MN) announced that he will introduce three new bills aimed at supporting the development of blockchain technologies, and the use of cryptocurrencies. “The United States should prioritize accelerating the development of blockchain technology, and create an environment that enables the American private sector to lead on innovation and further growth, which is why I am introducing these bills.” Details here.

 

  • Edward Baer of Ropes & Gray postedThe SEC’s Proposed ETF Rule Creates Fintech Opportunities. “Custom Baskets Present Opportunities for Fintech Applications, Including Blockchain and Artificial Intelligence.”

 

 

  • This is a rather provocative description of Atrium. “Many law firms are notoriously inefficient, charging clients by the hour to complete tasks that could easily be automated. In addition, most firms pay out any annual profits to shareholders, leaving nothing behind to invest in software or internal tools.” “For example, one of its apps automatically turns startup funding documents into Excel cap tables,” from a recent TechCrunch article.”

 

  • Here’s an interesting post from Artificial Lawyer (DLA Using Only ‘About 1%’ of AI’s Huge Potential So Far), featuring thoughts from folks at DLA and White & Case at the recent Legal AI Forum in London. “One might say the hype wave of the last couple of years has propelled AI systems into law firms, the really exciting part is now only really beginning and that is firms implementing such tech at a major scale across the business.”

 

  • Press releaseLexalytics Data Extraction Services Enables Hybrid Analysis of Both Structured and Unstructured Data from Corporate Documents.  “Lexalytics has been a leader in extracting insights from unstructured data for more than 15 years,” said Jeff Catlin, CEO of Lexalytics. “Lexalytics Data Extraction Services represents the first time we’ve brought this capability to the document data extraction market, and we’re excited to help companies go beyond what the current technology allows.”

 

  • UnitedLex, Big Deals in Hand, Sells Majority Stake to European Buyout Firm. “European private equity firm CVC Capital Partners said Thursday it had acquired a majority stake in Overland, Kansas-based UnitedLex Corp., an enterprise legal services provider that during the past 18 months has signed contracts worth $1.5 billion.” “UnitedLex CEO Daniel Reed said the transaction will give his company access to $500 million in debt and equity that he will use to invest in the company’s technology, target businesses for acquisition and to invest alongside the clients it serves.” “The announcement said UnitedLex’s leadership team had “fully reinvested in the transaction,” which Reed said was indicative of their belief that they can create ”the largest legal services company in the world.”” More here.
  • A2J?This ‘Serial Entrepreneur’ Thinks Finding a Lawyer Can Be as Easy as Hailing an Uber. “For $20, Kevin Gillespie’s ‘Text A Lawyer’ service lets consumers send a legal question to a pool of lawyers to pick up for a response.” “…(W)hich will solely focus on landlord/tenant issues in Oregon and Washington during its beta launch. He said the platform is also trying to get ‘up and running for immigration issues,’ and plans to cover other areas like employment, traffic, cannabis, and civil rights.”

 

  • More about AI for smaller firms or corporate legal departments (SMEs):

– Baidu no-code EasyDL tool could democratize AI for small businesses, bridge talent gap. “Baidu announced the launch of Baidu Brain 3.0, a central platform that helps enterprises more quickly and easily adopt artificial intelligence (AI) solutions—with or without programming talent. Baidu Brain provides 110 AI technologies, including face recognition, natural language understanding, and video understanding—all of which are available via open APIs or SDKs, according to a press release. Businesses can also use the platform’s no-code tool called EasyDL to build custom machine learning models without the need for programming skills….” Details here.

From WoltersKluwerThe role of AI in your small legal department.

2018 Is The Year Of Artificial Intelligence Transformation From RPA To SMEs. “Xineoh … says it has developed a platform for predicting customer behaviour with AI ‘which allows businesses to out-predict their competition thus allowing them to maximize efficiency and customer satisfaction’.” “It’s a bold claim and one laser-focused on SMEs. Its so-called bespoke AI solutions on Xineoh’s platform can be implemented rapidly without the cost, complexity and consulting required by other methods.” More here.

 

  • It seems the ACC is getting involved in blockchain’s use in law. This is a solid discussion of smart contracts. Smart Contracts: The Shared Ledger That’s Set in Stone.

 

  • And speaking of blockchain, this post about Series LLCs brings up some interesting points about the relationship between smart contracts, blockchain and lawyers. Here’s the sort of things discussed:

“This ability to learn and react diminishes the need for regular human management. Contracts written onto a blockchain could allow artificial intelligences to auto-resolve disputes, easing the litigation burden on courts when computers start doing business with other computers. The ability to safely share information on a blockchain will also lighten the burden of business management, able to quickly access relevant data from business and industry partners as well as different hubs of the same company. In the future, the computers may even run businesses themselves with auto-learning algorithms.”

“The biggest challenge to LLCs looking to join the blockchain revolution of the future will be finding programmers talented enough to code smart contract management programs, and the careful drafting of the “contract” in computer code languages. It also provides a challenge to lawyers: If initial contracts are written by coders, and subsequent contracts are written by the technology itself, where do lawyers fit in?”

 

  • This is an interesting discussion of how Malta is becoming seriously friendly to blockchain — it’s not just a marketing gimmick. Among Blockchain-Friendly Jurisdictions, Malta Stands Out.

 

  • Here’s more about Norton Rose’s chatbot ‘Parker’. Chatbot aids firms’ privacy compliance by finding client exposures within data breach laws. “The launch of the bot continues the steady incursion of artificial-intelligence-powered software into the Canadian legal market. Parker, a computer program that simulates human conversation, will guide clients in determining their exposure and obligations under new data breach laws and new regulations that will come into effect on Nov. 1 under the Personal Information Protection and Electronic Documents Act (PIPEDA).”

 

AndLogan Breed, a partner with Hogan Lovells’ Antitrust practice, sits down with Daniela Combe, Vice President and Assistant General Counsel at IBM. They talk about the explosion of data, the emergence of AI and cognitive computing – and the evolving relationship between in-house and outside counsel. Listen to the audio here.”

 

  • From Artificial Lawyer, an interesting post about firms engaging multiple AI solutions and needing to integrate them and link databases. ‘More Law Firms Turning to More Than One AI Solution’ – HighQ

 

  • From Clifford ChanceClifford Chance launches two new innovation units: the next stage of the firm’s Best Delivery and Innovation strategy