Legal departments can often be viewed, rightly or wrongly, as the place where business principals go if they want to hear “no,” because lawyers see the risks when others see only the opportunities. This becomes more evident and more important when companies are faced with the adoption of new technologies.
A current trend that shows no signs of abating is the widespread adoption of artificial intelligence and machine learning (which we will refer to collectively as AI). For the most part, commercial implementations of AI have been targeted at automating rote tasks, chat bots, and background analysis. However, AI is increasingly working its way towards higher-functioning decision making. In one case, a Hong Kong-based private investment fund developed its own in-house AI, which they claim drove a significant shift in their investment thesis. Other companies are championing the ability of AI to augment customer relationship management, boost productivity, and identify emerging problem areas in their businesses.
