Vince Walden welcomes Lie Tiedrich to the Walden Pond podcast this week. Lee is a partner at Covington and Burling where she co-chairs the firm’s global and multidisciplinary artificial intelligence (AI) practice. AI is at the intersection of law and technology, she says. The technology is growing faster than the law, and Covington helps clients navigate the evolving legal landscape so they can capitalize on the opportunities presented by AI. Other aspects of their work include product counseling, advising clients how to improve their operational efficiency using AI, and advising clients about how to adapt their business based on the policy landscape.
What is AI?
Lee defines AI as using computing to automate, imitate or emulate human behavior. There are three key components to AI, algorithms and code, data, and hardware. Advancement in digital and hardware technology is greatly responsible for the enthusiasm for AI in the market. Lee predicts that the adoption and development of AI will continue to grow.
Compliance Professionals Need to Know
If you’re using AI or planning to, you should be aware of the key issues and policy developments, especially in your jurisdiction. The policy landscape is evolving rapidly. If AI is relevant to your business, become informed of where the policy is going and think about how that impacts your business and what type of changes you might need to make to your operations. Another issue that’s relevant to compliance professionals is how to make AI trustworthy to enjoy its benefits while mitigating against unintended harms. Lee says that governance is an effective tool to help manage the data, development, and deployment of AI. Given the rapidly evolving landscape and the growing interest in AI, organizations should dedicate some resources to understanding the AI legal landscape.
Resources
InsideTechMedia.com
Law 360 article: The 10 Best Practices For Due Diligence in AI Transactions