Log in
Register
Search
Search titles only
By:
Search titles only
By:
Log in
Register
Search
Search titles only
By:
Search titles only
By:
More options
Toggle width
Share this page
Share this page
Share
Facebook
Twitter
Reddit
Pinterest
Tumblr
WhatsApp
Email
Share
Link
Menu
Install the app
Install
Forums
Law Firm Events
Law Firm Deadlines
TCLA TV
Members
Leaderboards
Premium Database
Premium Chat
Commercial Awareness
Future Trainee Advice
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Free Practise Exercise: Practise for Group Exercises and Case Studies with this Article!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="giomerighi" data-source="post: 138156" data-attributes="member: 23592"><p>Google’s AI chatbot Bard made an error that diminished parent company Alphabet’s market valuation by $100bn, underlining the ongoing difficulties with artificial intelligence development that is being spearheaded by Microsoft-backed ChatGPT.</p><p></p><p>Following the launch of Open-AI’s ChatGPT in November 2022, which was recently boosted by an additional $10bn investment by Microsoft, interest in the use of AI technology has risen. As well as Google’s Bard, AI is now being introduced in the legal sector with Magic Circle firm Allen & Overy testing a chatbot named Harvey to assist in basic document drafting. Chinese technology giants including Baidu, Alibaba and NetEase are also racing to match the west’s recent developments in AI. Baidu appears the frontrunner here with its chatbot named Ernie.</p><p></p><p>There are several advantages to utilising ChatGPT technology, particularly regarding the potential to increase efficiency of administrative tasks. As ALYH mentioned, ChatGPT can be used to draft simple answers to questions and reduce the time spent on search engines. Integrated into Bing, for example, a ChatGPT-enhanced search engine could improve the speed with which we search online. It could also generate a higher quality response that is more tailored to the question asked, which could attract users.</p><p></p><p>However, there are also significant disadvantages associated with using ChatGPT. ChatGPT draws on a variety of online sources to provide answers, however, if the data that is being used to “train” the AI is inaccurate or malicious, this could result in misinformation or harmful content spreading. ChatGPT’s knowledge could also remain limited if publishers that provide quality content decide to wall off their sites and charge ChatGPT for accessing their data, but OpenAI refuses. This issue will be particularly relevant concerning intellectual property rights for things such as art and music. Integrating ChatGPT could also come at a great cost due to the vast amount of computing power required to process chatbot style answers, which is an additional operational cost that must be considered.</p><p></p><p>As the interest in generative AI grows, law firms will play a central role in advising on the legal issues and assisting companies in maximising opportunities arising from this trend. Issues include the potential infringement of intellectual property rights. As mentioned by justkeepswimming, ChatGPT is demonstrating increasing proficiency in creating artwork and literature in the styles of different creators. This could give rise to complex litigation regarding whether AI-generated material has encroached the IP rights of individuals, and if so how they should be compensated and whether licences must be issued for their material to be used to “train” ChatGPT. The increased adoption of AI could also challenge a lot of jobs. Where companies may wish to replace employees with automation, employment lawyers can advise on redundancy procedures, thus mitigating the risks of unfair dismissal claims. Given the government’s recent announcement that online chatbots such as ChatGPT will be subject to the upcoming Online Safety Bill, ensuring regulatory compliance will also be crucial.</p><p></p><p>However, law firms can also play a fundamental role in assisting companies in maximising opportunities arising from this trend. This includes the significant amount of investment interest in generative AI. For example, Canadian venture capital firm Radical Ventures is putting together a $500m fund to invest in AI start-ups. Corporate lawyers can advise clients here regarding strategic decision making in a transaction and the high-level negotiation of term sheets and investment documents.</p></blockquote><p></p>
[QUOTE="giomerighi, post: 138156, member: 23592"] Google’s AI chatbot Bard made an error that diminished parent company Alphabet’s market valuation by $100bn, underlining the ongoing difficulties with artificial intelligence development that is being spearheaded by Microsoft-backed ChatGPT. Following the launch of Open-AI’s ChatGPT in November 2022, which was recently boosted by an additional $10bn investment by Microsoft, interest in the use of AI technology has risen. As well as Google’s Bard, AI is now being introduced in the legal sector with Magic Circle firm Allen & Overy testing a chatbot named Harvey to assist in basic document drafting. Chinese technology giants including Baidu, Alibaba and NetEase are also racing to match the west’s recent developments in AI. Baidu appears the frontrunner here with its chatbot named Ernie. There are several advantages to utilising ChatGPT technology, particularly regarding the potential to increase efficiency of administrative tasks. As ALYH mentioned, ChatGPT can be used to draft simple answers to questions and reduce the time spent on search engines. Integrated into Bing, for example, a ChatGPT-enhanced search engine could improve the speed with which we search online. It could also generate a higher quality response that is more tailored to the question asked, which could attract users. However, there are also significant disadvantages associated with using ChatGPT. ChatGPT draws on a variety of online sources to provide answers, however, if the data that is being used to “train” the AI is inaccurate or malicious, this could result in misinformation or harmful content spreading. ChatGPT’s knowledge could also remain limited if publishers that provide quality content decide to wall off their sites and charge ChatGPT for accessing their data, but OpenAI refuses. This issue will be particularly relevant concerning intellectual property rights for things such as art and music. Integrating ChatGPT could also come at a great cost due to the vast amount of computing power required to process chatbot style answers, which is an additional operational cost that must be considered. As the interest in generative AI grows, law firms will play a central role in advising on the legal issues and assisting companies in maximising opportunities arising from this trend. Issues include the potential infringement of intellectual property rights. As mentioned by justkeepswimming, ChatGPT is demonstrating increasing proficiency in creating artwork and literature in the styles of different creators. This could give rise to complex litigation regarding whether AI-generated material has encroached the IP rights of individuals, and if so how they should be compensated and whether licences must be issued for their material to be used to “train” ChatGPT. The increased adoption of AI could also challenge a lot of jobs. Where companies may wish to replace employees with automation, employment lawyers can advise on redundancy procedures, thus mitigating the risks of unfair dismissal claims. Given the government’s recent announcement that online chatbots such as ChatGPT will be subject to the upcoming Online Safety Bill, ensuring regulatory compliance will also be crucial. However, law firms can also play a fundamental role in assisting companies in maximising opportunities arising from this trend. This includes the significant amount of investment interest in generative AI. For example, Canadian venture capital firm Radical Ventures is putting together a $500m fund to invest in AI start-ups. Corporate lawyers can advise clients here regarding strategic decision making in a transaction and the high-level negotiation of term sheets and investment documents. [/QUOTE]
Insert quotes…
Verification
Our company is called, "The Corporate ___ Academy". What is the missing word here?
Post reply
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Free Practise Exercise: Practise for Group Exercises and Case Studies with this Article!
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…