Compliments of our colleague Imran Syed, Legal Director, IPT London.

As a new era of artificial intelligence (AI) technologies emerges, companies in almost every industry are exploring how they can use AI to drive improvements to their business. After all, the commercial gains are tantalizing, offering businesses a better understanding of their operations and their customers than ever before, as well opportunities for significant cost reduction and quality improvement.

Yet harnessing the benefits of these transformative technologies does not come without risk, particularly when compared with the risks generated by more human modes of failure.  Errors in AI solutions can scale more quickly. AI may exhibit bias that discriminates against certain classes of individuals. Indeed, a broad array of ethical considerations may arise from use of AI that may impact the workforce, customers and society at large.

In any business, the board of directors is ultimately responsible for the management of risk. It is the board members who will need to make informed decisions about the deployment of AI technologies, balancing these risks against potential benefits.  This is a key theme of the recent report published by the Institute of Business Ethics (IBE), which explores in detail the challenges faced by the board when coming to grips with AI in its business.[1]

In this article, we explore top areas of focus for boards that aim to harness the opportunities offered by AI in a responsible and controlled way.
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Artificial intelligence is growing dramatically – it is not just a household word but a key part of many households, and it is also increasingly essential to business.

What do we see in the near term for AI?  How can businesses exploit potential AI-limiting legal issues? Is the AI the new electricity?

Here are our top three predictions on the future of AI and IoT.
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On  June 28th, 2019, the UK Financial Conduct Authority (in response to an Opinion published by the European Banking Authority) published a statement on the possible delay of enforcement against businesses that, by September 14th, 2019, will not have met the Regulatory Technical Standards for Strong Customer Authentication (SCA) in
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Part 1 – Blockchain-based smart contracts and transactions automation

The traditional real estate industry is being reshaped by the emergence of blockchain technologies, artificial intelligence, and the Internet of Things. These technologies help real estate “incumbents” execute transactions more efficiently and consistently. But this is only a small part of
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Companies that use chat bots to interact with users in California now must comply with a new California law that is already in effect.  The new law, which requires clear and conspicuous disclosures when bots are used in online communications in California, aims to reduce confusion and deception online.  For
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AI is disrupting outsourcing. Lawyers and those involved in the contracting process need to understand that this means revisiting the way that contracts address various issues, and revising them accordingly.

It is a rare outsourcing project these days that does not have automation or AI/machine learning as an important –
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