From chatbots to ChatGPT, AI is transforming the way that businesses interact with consumers. Businesses should be mindful of the risks surrounding the use of AI when interacting with consumers. In this article, we offer practical guidance for businesses seeking to utilise this fast-emerging technology. AI and consumer law: the pros and the cons AI and consumer protection is not a one-sided story ...
With climate change continuing to be a topic of concern across the international community, Canada has recently taken another step to support the development of renewable energies and technologies. In the 2023 budget tabled on March 28, 2023, the Canadian federal government unveiled new tax incentives aimed at supporting investments in both renewable energies and certain clean technologies. These incentives can be grouped into five main Investment Tax Credits (ITCs) ...
The transformational power of AI is set to redefine the modus operandi across various sectors, including healthcare. The life sciences sector in particular are already realising the benefits of AI. Their shared experiences offer other health organisations the opportunity to pre-empt some of the challenges associated with AI. The rapid and profound impacts emerging from AI advancements are truly staggering, leaving no room for delay ...
SyCipLaw has authored the Philippine chapter of Lexology In-Depth: Artificial Intelligence Law. The Lexology guide seeks to provide a global overview of the fast-evolving state of law and practice surrounding artificial intelligence (AI) systems and applications. With a focus on recent developments and their practical implications, the guide examines key issues including legislative initiatives, government policy, AI risk management principles and standards, and enforcement actions ...
We all know how important advertising is in the business world. Traders use advertisements as marketing tools to inform customers and consumers about their products. With the rise of technology and social media, advertising is now taking diverse forms. Companies are increasingly turning to a more powerful tool, the ‘influencer’, to advertise their products. This phenomenon is also evident locally ...
Pension funds: hedging longevity risk Bulk Annuities Market Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes are considering a bulk annuity transaction or "buy-in". As a result, the bulk annuity market is booming ...
In this follow up article we will explore how the crypto sphere has advanced since the previous article, revisit some of the predictions we made and identify key legal updates in the crypto market and what those updates mean for the insolvency world ...
The use of cryptocurrency or crypto assets in employee incentive arrangements is a relatively new and evolving area and it is therefore important to carefully consider the potential advantages and disadvantages of their use in incentive arrangements. Different types of crypto assets Crypto assets can take many forms including digital currency such as Bitcoin and Litecoin and NFTs (non-fungible tokens) such as art NFTs and collectible real estate NFTs ...
Last week, Shoosmiths hosted an event with leading industry body, techUK, labelled ‘Redefining web 3.0: Emerging economies, metaverse technologies and the new age of the internet’. During this event we heard directly from representatives from the sector, who delve into the business potential created by the merging of web 3.0 and Metaverse technologies ...
The Supreme Court of Texas has issued its much-anticipated opinion on an open attorney’s fees question in the area of First Party Property appraisals. The issue came to the Texas Supreme Court on a certified question from the 5th Circuit and considers the practical effect of the Texas Legislature’s 2017 amendments to the Texas Prompt Payment of Claims Act, Chapter 542, Insurance Code ...
In the latest contribution to the debate on the UK's approach to AI regulation, the Lords Communications and Digital Committee has published a report urging the government to adopt a 'more positive' vision for AI, rather than concentrating on its "far-off and improbable" risks ...
Belgium is welcoming a significant development in the field of veterinary medicine law. The Act of 11 July 2023 containing various provisions on health, which entered into force on 8 September 2023, introduces changes across a wide spectrum of healthcare domains, which are encompassed in approximately 20 chapters. In this blog post, we provide an overview of the key changes related to the marketing of veterinary medicines set out in Chapters 4 and 14 of the new Law ...
The launch of our annual conference, Data Insights x Shoosmiths, took place on Wednesday, 24 January 2024 at our offices in London and virtually via live-stream. We were delighted to see a conversation between the titans of data transfer: Privacy Lawyer and Activist at NOYB Max Schrems and French MP Philippe Latombe, followed by a keynote from Barrister, Author and AI visionary Jamie Susskind ...
The EU Digital Services Act (‘DSA’), formally titled as the ‘Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on a Single Market For Digital Services and amending Directive 2000/31/EC’ is intended to overhaul the outdated framework that previously regulated online intermediaries such as auction sites, social networks, ISPs and platforms which allow for the sharing of content over the Internet ...
Fintech companies and their partners are on alert as a flurry of new state and federal cybersecurity requirements take effect. The New York Department of Financial Services (NYDFS) and the Federal Trade Commission (FTC) both recently finalized changes that will create additional compliance obligations, expand existing regulations to new entities and mandate that banks and fintech firms move quickly to update their cybersecurity policies and incident-response capabilities ...
A consultation published by the EU Commission on which over-the-counter (OTC) derivatives identifier would best facilitate price transparency closed at the end of last week. While we will need to wait until mid-2024 to hear the Commission’s findings, there are a couple of points of much broader impact and interest to all those interested in operating a multinational business, market structure, technology, digital assets, regulation, cross-border rule harmonisation and data privacy ...
New Law on Digital Security Digital systems and services are playing an increasingly crucial role in society, and attacks of these can have significant consequences. Consequently, digital security has become a national concern. The Norwegian National Security Authority’s report on security advisory for 2023 indicates that Norway’s preparedness in this context has long been insufficient ...
