Category:Artificial Intelligence
Will AI Make Trade Secrets No Longer Secret?
Most companies own valuable trade secrets, such as the recipe for Coca-Cola or Google’s algorithm. But can a company that develops AI have trade secrets? The Uniform Trade Secrets Act defines a trade secret as “information, including a formula, pattern, compilation, program, device, method, technique, or process,” that derives economic value and is the subject of efforts to maintain its secrecy. The protection of trade secrets is essential for companies to maintain their competitive edge and drive economic growth. As such, they are instrumental in both corporate governance and compliance. Companies already deal with the risks of employees using generative artificial intelligence (AI) and exposing trade secrets; however, recent AI regulations in Europe and the United States have further increased risks relating to trade secrets.
The Regulatory Framework of Our Data Privacy Legislation is Changing Amidst the Rise of Artificial Intelligence
With the rapid evolution of artificial intelligence (AI) comes unprecedented opportunities and legitimate challenges, especially in the realm of data privacy. The rising capabilities of AI systems to process, analyze, and use massive amounts of personal data has generated amplified regulatory scrutiny across the globe. Governments and regulatory bodies are wrestling with how to balance innovation and economic growth propelled by AI against the need to protect individuals’ privacy, ensure transparency, and safeguard data from misuse.
Generative AI- The Next Frontier in Fighting Financial Crime
Artificial intelligence (AI) is the latest tool in a financial institution’s arsenal to restrict the flow of money being channeled to fund illegal activities worldwide. As criminals get more innovative and sophisticated in using the latest technology to evade detection of their financial crimes, financial institutions must follow suit and utilize similar technology to root out these crimes or risk facing regulatory sanctions. Money laundering generally refers to financial transactions in which criminals, including terrorist organizations, attempt to disguise the proceeds of their illicit activities by making the funds appear to have come from a legitimate source. However, this is not a new phenomenon. Congress passed the Bank Secrecy Act (BSA) in 1970 to ensure financial institutions follow a set of guidelines known as KYC (Know Your Customer/Client) to detect and prevent money laundering through their systems.
Regulating AI Used to Predict and Prevent Sports Injuries: A Crucial Need
The use of Artificial Intelligence (AI) in sports could revolutionize the way athletic injuries are predicted and managed. Notably, a variety of AI companies have developed software that forecasts potential injuries, possibly prolonging athletes’ careers. This technology analyzes data about the biomechanics of players, their frequency of play or training, and past injuries to identify patterns, find potential causes, and predict future injuries. There is immense value in preventing injuries in athletics for players, teams, and fans alike. It would therefore make sense that everyone is eager to utilize the findings of AI, but without regulation this could cause more harm than good.
AI Copyright Conundrum: An Evolving Legal Landscape
The objective of copyright law is to protect certain rights of a human author. But what happens when a nonhuman author creates something that is original, fixed, and has a minimal degree of creativity? Well, in the wild case of Naruto v. Slater, animals cannot have copyright protection in a “Monkey selfie.” As the technological world advances, the latest dispute that has everyone going bananas is AI and copyright protection. The Copyright Office will not register works “produced by a machine or mere mechanical process” such that there is no creative input from a human author because this kind of protection goes against the objective of copyright law.