Reuters evaluated what the EU’s new proposed AI regulations — which may have rippling impacts on the approach other legislative bodies take to AI — mean for service industry professionals. The analysis includes insights from Reuters’ surveys of professionals in the legal, tax & accounting, corporate, and government spaces.
The Financial Stability Oversight Council has identified the rise of AI as a “vulnerability” challenging the stability of the U.S. economy, according to the Financial Times. Still, the tech is an “emerging threat,” according to Secretary of the Treasury Janet Yellen, who chairs the Council. Yellen added that she believes existing regulations will be sufficient to combat any potential threat posed by AI.
Researchers from OpenAI’s “Superalignment” research team have introduced a possible way “to let an inferior AI model guide the behavior of a much smarter one without making it less smart,” mitigating the risk of the smarter AI going rogue, according to Wired. The process, referred to as supervision, could serve as a safeguard during future AI research.
In a new interview with the Associated Press, Amazon Web Services CEO and key player in the company’s AI strategy Adam Selipsky discusses that strategy and articulates a vision for generative AI that utilizes “three different layers”: infrastructure, large language models, and the consumer-facing applications that utilize AI to deliver services.
For The Legal Intelligencer, general counsel for Datasite LLC Patricia Ellis argues that the M&A sector is particularly well-suited to adopting AI. Ellis suggests several portions of the dealmaking process that may benefit the most from adopting AI into the workflow, especially those that require the completion of repetitive and time-consuming tasks.
Ethan Beberness is a Brooklyn-based writer covering legal tech, small law firms, and in-house counsel for Above the Law. His coverage of legal happenings and the legal services industry has appeared in Law360, Bushwick Daily, and elsewhere.