AI Life Sciences
Welcome to our Artificial Intelligence (AI) Review
Since the publication of our last AI Annual Review in 2020, there has been much debate surrounding the publication of the Regulation on AI, now referred to as the EU draft Artificial Intelligence Act (the AIA). We review key developments in 2021 and look at how AI impacts on certain commercial sectors.
- There are many sources of risk and liability when using AI. These can range from intellectual property rights, GDPR, the impending AI Regulation, sector specific regulatory requirements and even equality legislation. Contracting for AI, however, is about voluntary risk allocation and the approach taken to this can vary widely. As contracting for AI is at a relatively early stage, there is a degree of uncertainty on how to approach it. This is particularly the case when it comes to dealing with liability issues. We look at how suppliers and customers can take a considered, informed and reasonable approach to liability allocation in an AI contract.
- While we await the final text of the AIA, we review current obligations under GDPR when using AI.
- We outline the key areas of the AIA addressed in the Compromise Text, published in November 2021 by the EU Council Slovenian Presidency, as part of a progress report on discussions so far on the adoption of the AIA.
- We also consider the key challenges and global responses for AI in Medical Devices.
- In terms of the financial industry, we review the associated regulatory developments across the banking, insurance and investments sectors
- We also examine how enforcement is addressed in the AIA and the difficulties that will arise due to the opaque nature of AI.