EVERSHEDS SUTHERLAND is pleased to provide the following links and know-how information following City & Financial Global’s successful:

‘Data and The Future of Financial Services Summit 2023’ on Wednesday 17 May 2023, London, Hilton Double Tree, Columbia Wharf

Data as an Asset & Artificial Intelligence (AI)
 
Please see our series of articles on ‘Data as an Asset’, which highlights some of the issues to consider in relation to creating, exploiting and managing data assets, whether in relation to the FS sector or otherwise:

This is the first in a series of monthly articles on how to leverage the value of data and navigate the potential obstacles. Our recent report, The next drivers of strategic M&A, identified the importance of data for businesses looking for acquisition targets. Throughout this series, we will discuss how data as an asset is impacting M&A transactions and other strategic business areas.

In this article we examine data as an asset in the context of corporate law transactions.

This is the second article in a series of monthly articles on how to leverage the value of data and navigate the potential obstacles. Throughout this series, we will discuss how data as an asset is impacting M&A transactions and other strategic business areas. You can read the first article in the series here, which focuses on data as an asset in the context of corporate law transactions.

Following the recently published OECD December 2022 report ‘Data shaping firms and markets’, data is an essential ingredient to digital transformation. Firms are at the forefront of digital transformation and use data as a strategic asset to drive and boost production, innovation and the greater deployment of digital technologies into economies and societies.

This is the fourth article in a series of monthly articles on how to leverage the value of data and navigate the potential obstacles, focusing on how national and international policymakers are seeking to tax the global digitalised economy and the monetisation of data.

With organisations increasingly relying on AI technology, UK and EU regulators are turning their attention to effective regulation of AI in an effort to recognise its benefits while instilling confidence in individuals that the increasing use of AI is being deployed appropriately and lawfully.

The UK regulator, the ICO, has published new guidance on the use of AI in an effort to help regulators better understand it for the sectors it regulates.

With organisations increasingly relying on AI technology, UK and EU regulators are turning their attention to effective regulation of AI in an effort to recognise its benefits while instilling confidence in individuals that the increasing use of AI is being deployed appropriately and lawfully.

The UK regulator, the ICO, has published new guidance on the use of AI in an effort to help regulators better understand it for the sectors it regulates.

We have a timely intervention from the UK’s data privacy regulator on the hot topic of AI. On 11 April 2023,  the Information Commissioner's Office (“ICO”) published its response to the UK government’s AI White Paper, hot off the heels from publishing its own updated guidance on AI and Data Protection on 15 March.

Whether US/Asia/Middle East, Europe/UK, it’s the same themes that are relevant to safe ethical use of AI for all businesses.  The same OECD principles on trustworthy AI run through all AI laws, regulations and guidance, whether US, EU, UK or otherwise.  Here’s the latest from the UK perspective.

As advancements in technology continue to grow at a rapid pace, more and moreorganisations are turning to artifi cial intelligence ('AI') for various uses. Whilst AI has thepotential to benefi t society in countless ways, its use does not come without various risks (e.g.bias, discrimination, or lack of explainability) – this may eventually lead to a lack of public trust.And distrust can kill innovation.

Can an artificial intelligence (AI) system be an inventor? Not in the eyes of the Federal Circuit and the United States Patent and Trademark Office (USPTO).

Stephen Thaler recently submitted two patent applications for which an artificial intelligence system named “DABUS” was listed as the sole inventor. Specifically, the first application was directed to a food or beverage container that facilitates stacking.1 The second application was directed to a light device including a neural flame that serves as a signal beacon for human detection.2 The USPTO denied the patent applications for failing to list any human as an inventor. The Eastern District of Virginia sided with the USPTO and the case was appealed to the Federal Circuit. In a recent decision in Thaler v. Vidal, No. 21-2347 (Fed. Cir. 2022), the Federal Circuit concluded that an artificial intelligence system cannot be a patent inventor under the Patent Act.

This document has been prepared by the Department for Science, Innovation and Technology. It is intended for illustrative purposes only to assist the reader in understanding the changes to be made to the UK GDPR by the Data Protection and Digital Information (No. 2) Bill as introduced in the House of Commons on 8 March 2023.

On Tuesday 7 February 2023, following a statement by Andrew Griffiths MP, the Economic Secretary to the Treasury in the House of Commons, the Bank of England (BoE) and HM Treasury (HMT) launched their consultation “The digital pound: a new form of money for households and businesses?”  Later that day, Sir Jon Cunliffe, BoE Deputy Governor (Financial Stability) gave a speech entitled “The digital pound” at UK Finance.