Artificial intelligence has undergone significant developments in the last few years, particularly in respect of what is now known as deep learning.1 This method is the extension of the neural networks which have been used for a few years for machine learning. Deep learning, as any other form of machine learning, requires that the artificial intelligence system be placed before various situations in order to react to situations which are similar to previous experiences ...
How Wirecard skirted regulatory scrutiny by jurisdiction-shopping and canny intra-group structuring. It would have been the quintessential business success story. Founded in Munich in 1999, this small payment processor for online gambling and pornography sites grew so massive that, by 2018, it had displaced Commerzbank from Germany’s prestigious Dax 30 index. At its peak, the juggernaut was valued at more than €24 billion (S$38.6 billion) ...
Earlier this year, we released our inaugural cyber survey report, Perspectives on Cyber Risk (the Report), intended to provide insight into Australian organisations' cyber risk posture and cyber resilience capability.Perhaps one of the more surprising findings in the Report was that surveyed organisations did not appear to be overly concerned about the risk of regulatory action flowing from a cyber breach ...
Can social media platforms be considered products for the purpose of a product liability action in New York? At least one court seems to think so — but as we explain below, its opinion appears to be the first of its kind, although there is limited precedent in New York either way. On March 18, Justice Paula Feroleto of the New York Supreme Court, Erie County, denied a motion to dismiss in Patterson v. Meta Platforms Inc ...
In the second instalment of The Fintech Times' ‘Where to Relocate’ series, we turn the spotlight to the Cayman Islands as a VASP-friendly jurisdiction. Situated in the Caribbean, the Cayman Islands offer a unique blend of regulatory excellence, technological innovation, and a commitment to fostering the growth of digital assets ...
The liability of online platforms relating to infringing IP material that appears on their platforms is an interesting topic. Who is liable for infringing material that appears on online platforms, the person who posts the material or the online platform? This was recently considered by the Court of Justice of the European Union (“CJEU”) in two separate cases. Some preliminary points Copyright news in South Africa these days is scant ...
New anti-harassment law in time for new virus panic. The COVID-19 crisis that began in Wuhan, China, brings to mind earlier epidemics. In 2003, we were in the grip of the severe acute respiratory syndrome (Sars). It was the first pandemic in the era of the Internet, blogging and social media. Amid the panic about infections, one individual was widely labelled a “super spreader”. Her name and personal details were published ...
With the rise of DALL-E 2, Midjourney and others, AI powered tools are becoming more capable and impressive. Brands have started to use these tools for marketing campaigns such as BMW’s advertising campaign for the 8 Series Gran Coupé, where the car became a canvas for an AI-powered robot artist ...
As businesses continue to operate in an increasingly globalised economy, the transfer of personal data across international borders has become a critical aspect of many operations. However, with the latest legislative changes from the EU, it has become more challenging to transfer data lawfully to third countries. By now, you may have had requests to amend your contracts with international counterparts ...
But what are the reasons for this? And what are the advantages of establishing a fund in Guernsey when compared to other jurisdictions? As the leading legal adviser to Guernsey’s investment funds sector by both number of funds advised and by assets, we believe that the following reasons help to explain Guernsey’s success and provide strong arguments for choosing Guernsey ...
If you are responsible for handling data subject requests made pursuant to the EU General Data Protection Regulation or verified consumer requests made pursuant to the California Consumer Privacy Act, chances are you have come across one or more of the myriad companies that purport to be advocating for consumers in making requests on their behalf. These companies include Mine, Privacy Bee, DeleteMe and Revoke ...
Hidden in the details of the Bipartisan Budget Act of 2018 are some key telehealth provisions that are receiving praise from many industry groups and could mark a significant development for Medicare telehealth policy. The new legislation promotes telehealth in several ways. Tele-stroke. Medicare currently only covers tele-stroke services for patients located in rural health professional shortage areas and counties not classified as a metropolitan statistical area ...
The SRA recently published its Technology and Innovation in Legal Services report. One key feature was improving user trust in legal technology. It's much more important that you'd think. ‘Hello! And thank you for reading this far. Unfortunately, all of our authors are busy at the moment. Your custom is very important to us. Please wait as we transfer you to the next paragraph. Thank you. As clearly as possible, please tell us why you are reading this article. Sorry ...
Japan has a history of investment and joint ventures in India. Foreign direct investment from Japan increased to USD35 billion between 2000-2020, with USD10 billion worth of inbound mergers and acquisitions in 2015-2020 alone. Factors including geopolitical realignments in Asia, excess global liquidity and a new, incentive-based manufacturing regime in India mean that the economic relationship between India and Japan in high-value manufacturing is likely to expand further ...
WiMax, Worldwide Interoperability for Microwave Access, is a new product developing in Chile that promises to revolutionise Internet access. WiMax allows high speed transmission of data and multimedia services (e.g., the Internet and videos) from laptops, cell phones and other portable devices from distances greater than was possible with previous technologies. According to some preliminary tests, WiMax equipment can reach up to 40 km in open spaces ...
On 23 September 2021 we hosted our latest IHL webinar on working with AI: the key types, implementing AI and what the future might bring. Ian Blackwell represented Next Retail Ltd on the panel, alongside Simon McArdle and Sebastian Price, Commercial Partners at Shoosmiths. The background: Artificial intelligence (AI) is here now, and its power is taking off. Put simply, AI is a gamechanger ...
Ransomware Goes Corporate - A First-Hand Account An Interview With.... Sandra Elvin, National Security Office for Microsoft Sweden Jon Åsberg, Editor-in-Chief at Fokus, Sweden’s leading weekly news and current affairs magazine Faced with a range of obstacles, business leaders were already dealing with rising challenges to their risk and approach to cybersecurity; and then, along came Covid-19 ...
WSG Members Featured in Financial Times Innovative Lawyers 2022 Report for Europe WSG member firms Colbalt, Ellex, Garrigues, PLMJ and Shoosmiths were recently recognized as top firms for innovation in the Financial Times Innovative Lawyers 2022 Report for Europe. The report explores key trends and transformations taking place in the legal sector with an index of firms and articles and is the most widely respected published assessments for innovation in the law ...
Record number of fines in 2021 At European level, a record number of fines have been issued during 2021 for violating the EU General Data Protection Regulation (GDPR). Since the GDPR entered into force in the EU on 25 May 2018, the supervisory authorities have imposed or notified fines in approx. 900 cases with an accumulated amount of approx. EUR 1.3 billion. As many as 500 of these cases are from 2021 with accumulated fines of as much as EUR 1 ...
