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artificial intelligence

An Israeli software company, LawGeex, has released a report which it says establishes the principle that its software can analyse contracts faster and more accurately (and therefore much cheaper) than lawyers specialising in the specific field under review. Using the trendy tags "artificial intelligence" and "deep learning," the methodology of the test and its results show good reason for lawyers to think the future might be about to become ultra-tough. Or provide new opportunities to improve revenue per junior fee earner.

Editorial Staff
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There's much jargon flying around in the world of counter-money laundering. It starts with the mistaken name of "anti-money laundering," via the equally erroneous "red flags" to the current vogue terms of "artificial intelligence" and "machine learning." As FinTech and RegTech have passed their media bubble phases, the next wave is so-called "AI AML."

Think about this: when you install any form of AI, you are outsourcing to the software providers the function that the law requires that your staff perform.

Before you even meet the representatives of the start-ups that want to either bolt onto or supplant your existing technology provider, there are several questions you must ask. Here they are.

Like so many developers of so-called artificial intelligence, Google is proud of its efforts and, yet, once again AI has proved that it is often a failure waiting to happen. But this example is ever funnier - and more worrying. Someone has manipulated it and the target, amazingly, is people working in e.g. banks. Should banks, etc. now ban Google Alerts?

Editorial Staff
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The wording says "If you'd like to cancel just part of your order... please contact us and quote your order number." So, like the obedient chap I am, I did.

This is my exchange with Marks and Spencer's Chatbot.

And you think AI will protect your bank?

Nigel Morris-Co...
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