Bite-Sized Business Law The NYSBA Has Spoken: Their Groundbreaking AI Taskforce Report
The New York State Bar Association has spoken! An April report by its esteemed Task Force examines the legal, social, and ethical impact of AI on the legal profession, as well as how the new guidelines will impact businesses everywhere. In this episode, we interview one of the 16 members of the AI Task Force about his first-hand experience at the helm of developing this new frontier. Jonathan Armstrong is a Partner at Punter Southall Law in London, where his focus on compliance and technology positions him as one of the most influential figures in fintech, AI, and data security across the globe. Join us as Jonathan offers insights into the necessity of a global approach to combat the problem of AI-driven territory seizing and weighs in on different principles underpinning new laws. We discuss data training, what needs to happen to make data more trustworthy, liability exposure, why opting out of AI is not an option, and much more. Be sure to tune in to hear Jonathan’s answers to many of the most pertinent questions in the legal world today!
Key Points From This Episode:
- The recent NYSBA report on the impact of AI on the legal profession.
- Jonathan’s path to combining his dual passions for law and technology.
- His course on international compliance at Fordham Law.
- How Jonathan was chosen to sit on the AI Task Force.
- The issue of AI seizing territory and the necessity of having a global approach.
- Categorizing the principles beneath new laws.
- Inaccuracy in AI and its impact on access to justice.
- Challenges associated with which data AI should be trained on.
- What needs to happen to be able to trust the data produced by AI.
- Responsible use of AI in legal practice.
- Jonathan’s insights on liability exposure for AI with reference to corporate boards.
- Risk analyses that should be prioritized by corporate boards.
- Why opting out of AI is not a realistic option.
- Developing the skills necessary to establish your value as a young lawyer.
- What you need to know about the EU-required “Fundamental Rights Impact Assessments.”
- Identifying and remediating the risks of AI mediation.
- Testing AI integrations according to core values to set appropriate foundations.
Links Mentioned in Today’s Episode:
Jonathan Armstrong on LinkedIn